EURUSD Technical Analysis 2016, 21.08 - 28.08: Fibo resistance with ascending triangle to be broken for bullish

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EURUSD Technical Analysis 2016, 21.08 - 28.08: Fibo resistance with ascending triangle to be broken for the daily bullish to be resumed

Sergey Golubev, 2016.08.22 07:07

EUR/USD Intra-Day Technical Analysis - breaking key support level for the correction to be continuing

H4 price is located to be above Ichimoku cloud in the bullish area of the chart: the price was started with the local downtrend as the secondary correction within the primary bullish market condition by 1.1270 support level to be breaking for the correction to be continuing.

If H4 price breaks 1.1270 support level on close bar together with descending triangle pattern to below so the local downtrend as the secondary correction within the bullish market condition will be continuing.
If H4 price breaks 1.1366 resistance level on close bar from below to above so the bullish trend will be resumed.
If not so the price will be on bullish ranging within the levels.

• Recommendation for long: watch close H4 price to break 1.1366 for possible buy trade
• Recommendation to go short: watch H4 price to break 1.1270 support level for possible sell trade
  
• Trading Summary: ranging
  

Resistance	Support
1.1332	1.1270
1.1366	1.1153

SUMMARY : bullish

TREND : correction

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Sergey Golubev, 2016.08.23 14:26

Technical Targets for EUR/USD by United Overseas Bank (based on the article)

H4 price is located above 100 SMA/200 SMA for the bullish market condition: the price is on ranging within the following support/resistance levels:

• 1.1354 resistance level located above 100 SMA/100 SMA in the bullish area of the chart, and
• 1.1270 support level located near and above 100 SMA in the beginning of the secondary correction to be started.

The bearish reversal level is 1.1130 support, and if the price breaks this level to below on close H4 bar so the reversal of the intra-day price movement from the bullish to the primary bearish market condition will be started.

Daily price. United Overseas Bank is expecting for EUR/USD to be continuing with the bullish market condition:

"While stops for s/t bullish view is still intact at 1.1240, the recent price action is lackluster and the odds for extension to the 1.1430 high seen on the day of Brexit are not very high. EUR has to clear the recent 1.1365 peak in an ‘impulsive manner’ before a sustained up-move can be expected."

• If daily price breaks 1.1365 resistance level on close bar so the bullish trend will be continuing.
  
• If daily price breaks 1.1109 support level on close bar so the reversal of the price movement to the primary bearish market condition will be started.
• If not so the price will be on bullish ranging within the levels.

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EURUSD Technical Analysis 2016, 21.08 - 28.08: Fibo resistance with ascending triangle to be broken for the daily bullish to be resumed

Sergey Golubev, 2016.08.24 18:37

EURUSD Technical Analysis: daily correction with 1.1240 as a key level

Daily price is located above Ichimoku cloud in the bullish area of the chart: the price is started with the secondary correction with 1.1240 support level to be tested for the correction to be continuing.

• Chinkou Span line of Ichimoku indicator is above the price indicating the correction to be continuing in the near future.
• Absolute Strength indicator is estimating the correction within the primary bullish trend.
• Trend Strength indicator is forecasting the trend as the ranging bullish.
  

If D1 price breaks 1.1366 resistance level to above on close bar so the primary bullish trend will be resumed.
If D1 price breaks 1.1240 support level to below on daily close bar so the local downtrend as the correction within the bullish market condition will be started.
If D1 price breaks 1.1130 support level to below on close bar so we may see the bearish reversal to be started on this timeframe.
If not so the price will be bullish ranging within the levels.

• Recommendation for long: watch close D1 price to break 1.1366 for possible buy trade
• Recommendation to go short: watch D1 price to break 1.1240 support level for possible sell trade
  
• Trading Summary: correction
  

Resistance	Support
1.1366	1.1240
N/A	1.1130

SUMMARY : bullish

TREND : correction

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Sergey Golubev, 2016.08.25 10:12

EUR/USD Intra-Day Fundamentals: German Ifo Business Climate and 10 pips price movement

2016-08-25 08:00 GMT | [EUR - German Ifo Business Climate]

• past data is 108.3
• forecast data is 108.5
• actual data is 106.2 according to the latest press release

if actual > forecast (or previous one) = good for currency (for EUR in our case)

[EUR - German Ifo Business Climate] = Level of a composite index based on surveyed manufacturers, builders, wholesalers, and retailers.

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EUR/USD M5: 10 pips price movement by German Ifo Business Climate news event

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EURUSD Technical Analysis 2016, 21.08 - 28.08: Fibo resistance with ascending triangle to be broken for the daily bullish to be resumed

Sergey Golubev, 2016.08.25 11:20

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Sergey Golubev, 2016.08.25 14:59

Intra-Day Fundamentals - EUR/USD and GBP/USD: Durable Goods Orders

2016-08-25 12:30 GMT | [USD - Durable Goods Orders]

• past data is -3.9%
• forecast data is 3.4%
• actual data is 4.4% according to the latest press release

if actual > forecast (or previous one) = good for currency (for USD in our case)

[USD - Durable Goods Orders] = Change in the total value of new purchase orders placed with manufacturers for durable goods.

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GBP/USD M5: 23 pips range price movement by U.S. Durable Goods Orders news event

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EUR/USD M5: 17 pips range price movement by U.S. Durable Goods Orders news event

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Sergey Golubev, 2016.08.26 08:19

Technical Targets for EUR/USD by United Overseas Bank (based on the article)

H4 price is located above 100 SMA/200 SMA for the bullish market condition: the price is on ranging within the following support/resistance levels:

• 1.1365 resistance level located far above 100 SMA/100 SMA in the bullish area of the chart, and
• 1.1244 support level located near and above 100 SMA in the beginning of the secondary correction to be started.

The price is testing 1.1296 resistance level together with ascending triangle pattern to above.

Daily price. United Overseas Bank is expecting for EUR/USD to be continuing with the ranging bullish market condition within 1.1190/1.1370 range:

"As highlighted yesterday, unless EUR can move and stay above 1.1310/15, the bullish outlook would shift to neutral. While further EUR strength would not be surprising further out, the current price action suggests that this pair has entered a consolidation phase and only a clear break out of the expected 1.1190/1.1370 sideway trading range would indicate the start of directional move."

• If daily price breaks 1.1365 resistance level on close bar so the bullish trend will be continuing.
  
• If daily price breaks 1.1109 support level on close bar so the reversal of the price movement to the primary bearish market condition will be started.
• If not so the price will be on bullish ranging within the levels.

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Sergey Golubev, 2016.08.26 16:26

Intra-Day Fundamentals - EUR/USD and GBP/USD: Fed Chair Yellen Speaks

2016-08-26 14:00 GMT | [USD - Fed Chair Yellen Speaks]

• past data is n/a
  
• forecast data is n/a
  
• actual data is n/a according to the latest press release

[USD - Fed Chair Yellen Speaks] = Speech titled "The Federal Reserve's Monetary Policy Toolkit" at the Federal Reserve Bank of Kansas City Economic Symposium, in Jackson Hole

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"Although fiscal policies and structural reforms can play an important role in strengthening the U.S. economy, my primary message today is that I expect monetary policy will continue to play a vital part in promoting a stable and healthy economy. New policy tools, which helped the Federal Reserve respond to the financial crisis and Great Recession, are likely to remain useful in dealing with future downturns. Additional tools may be needed and will be the subject of research and debate. But even if average interest rates remain lower than in the past, I believe that monetary policy will, under most conditions, be able to respond effectively."

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GBP/USD M5: 136 pips range price movement by Fed Chair Yellen Speech news event

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EUR/USD M5: 100 pips range price movement by Fed Chair Yellen Speech news event