forexsq.com - Bearish pattern tests psychological level at 1.3000. EUR/USD’s latest bearish reversal pattern is testing psychological support at 1.3000 and has activated our model portfolio short position. The move is being weighed by a recent DeMark™ exhaustion signal and is likely to lead to a further increase of volatility over the next few weeks. A decisive close below 1.3000 is required to u
forexsq.com - EUR/USD’s latest bearish reversal is extending lower into psychological support at 1.3000. The move is being weighed by a recent DeMark™ exhaustion signal. • A decisive close below 1.3000 is required to unlock the important multi-month reversal pattern into 1.2625 (16 Jan swing low). • Meanwhile, only a sustained daily close back above 1.3284 (01 May high), puts this scenario on hol
forexsq.com - Global markets return to fuller trade on Wednesday following the Tuesday holiday session in many countries. Overall, there has been no real change to the familiar ranges, and volatility remains at exceptionally low levels. The Euro has mostly been locked in tight consolidation above 1.3200, while even the recently wilder Australian Dollar has resigned itself to quieter trade followi
forexsq.com - The US Dollar has come under some intensified pressure in recent sessions, and the across the board underperformance in the buck suggests that there could be more at play than simply risk on market drivers. While there has been clear evidence of a resumption of risk buying over the past several sessions, which can be attributed to some of the weakness in the Greenback, we would also
forexsq.com - Early signs of basing continue to develop around the important 1.3000 psychological level. However, the multi-month reversal pattern and recent DeMark™ exhaustion signal still weigh. • A decisive close below 1.3000 is required to unlock the important multimonth reversal pattern into 1.2625 (16 Jan swing low). • Meanwhile, only a sustained daily close back above 1.3228 (20 th April h
EUR/USD’s latest mid-March rebound failing to hold above the key level at 1.3290/95 (internal resistance), while also being weighed down by a renewed DeMark™ exhaustion signal. • Only a sustained daily close back above 1.3436/60 unlocks an extended recovery into our upside target zone at 1.3597 (200-day average). • Meanwhile, the bears need to close decisively below 1.3140, then 1.3000 (psycholog
We enter the new week with the Euro still very much locked in a tight multi-day consolidation predominantly defined between 1.3000 and 1.3300. This will be the key market to watch going forward and a sustained break above 1.3300 or back below 1.3000 will be required for a clearer directional bias. A break on either side will likely shape the fundamental landscape of the markets, with a push above
Exited at 1.3120. EUR/USD is still maintaining its short-term downtrend from late February, while capped beneath last Friday’s high. The bears need to close decisively below 1.3000 (psychological support), in order to open further downside risk into 1.2630 (16 Jan swing low). Only a confirmation back above 1.3291 (09th March high) and 1.3436/60 unlocks an extended recovery into our upside target
Forexsq.com - That answer could be in the consolidation seen on the 60-minute time frame. The momentum set up that will either push the pair higher through near-term highs to make a run at the 1.3300 to 1.3320 area or either send it lower through 1.3200 could be as simple as the break of a symmetrical triangle.
The after-effects of a market still sighing a breath of relief for Greece’s bailout
Forexsq.com - It is a case of déjà vu again and again this week as Greece will inevitably dominate the headlines. It will basically come down to German Chancellor Merkel’s decision whether to push ahead with a deal package which totally lacks credibility or whether to put Greece out of its misery now and gamble with default and Euro exit. It looks increasingly likely that Germany is prepared to
Forexsq.com - EUR/USD has activated a reversal beneath key resistance at 1.3250 (38.2% Fib-Jan/Oct decline). Further compounded bearish pressure remains from the recent candle pattern and intraday DeMark™ signals. • Only a successful challenge of 1.3250 will unlock an extended recovery into our next target zone at 1.3440/60 and 1.3548 (02nd Dec high). • Meanwhile, the bears need to push back bene
Forexsq.com - EUR/USD’s latest rebound is still under key resistance at 1.3250 (38.2% Fib-Jan/Oct decline). Further compounded bearish pressure remains from the active candle pattern and intraday DeMark™ signals. • Only a successful challenge of 1.3250 will unlock an extended recovery into our next target zone at 1.3440/60 and 1.3548 (02 nd Dec high). • Meanwhile, the bears need to push back bene
A.D.P. reported United States (U.S.) private sector employers added 170,000 positions in January. December added a revised 292,000 number of jobs. For January, analysts projected growth of 182,000. Despite this, the past three month (November, December, and January) average calculated to 223,000 a higher monthly average compared to the mean for all of 2011 at 163,000, according to ADP. Some of th
The pair is trading above the 50-Day SMA, so we look for additional gains towards the 100-Day SMA by 1.3360. However, a break back below the 50-Day SMA could trigger a setback towards the 1.2875-1.2930 support area, with a break below to extend losses toward the 1.2625 low.
The pair managed to hold above the 50-ay SMA and in a short-term could continue gains towards the 100-Day SMA by 1.3370. However, daily studies are close to overbought conditions, suggesting that a reversal could take place from current levels. A break back below the 50-Day SMA would confirm a setback towards the 1.2875-1.2930 support area, with a break below to extend losses toward the 1.2625 lo
