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
ForexSQ.com - EURUSD - Having rallied and broken the 1.3074 level and the 1.3197 level, EUR now looks to strengthen further with eyes on the 1.3375 level, its Dec 12'12 level. On further price extension, the pair should target the 1.3484 level, its Dec 05'2011 high and possibly higher towards its Dec 02'2011 high at 1.3547. Its weekly RSI is bullish and pointing higher suggesting further strength
The pair reached the 50-Day SMA by 1.3080. A clear break and consolidation above this level would confirm a shift in a medium-term structure and accelerate gains towards the 100-Day SMA by 1.3380. Otherwise we see the risks of a new decline towards the 1.2590-1.2625 support area.
The pair is in a corrective mode, trading by 1.2900. However, the short-term risks are still on the upside, so we look for further gains towards the 50-Day SMA by 1.3100. Breaking and consolidating above the 50-Day SMA would confirm a shift in a medium-term structure and accelerate gains towards the 100-Day SMA by 1.3400. However, while the pair trades below the 50-Day SMA, the medium-term risks
The pair continues recovering, aiming for testing the nearest 1.2875 resistance. Breaking above this level would extend gains towards the 50-Day SMA by 1.3150. However, while the pair trades below the 50-Day SMA, the medium-term risks are on the downside, so we look for a bearish reversal and a new attempt to reach the 1.2590 support, with a break and consolidation below to confirm long-term decl
The pair made a sharp drop and almost reached the 1.2600 level. Now we look for testing the 1.2585 support, with a break and consolidation below to confirm long-term declines towards the 1.1875 low. Meanwhile, should the pair stall out by 1.2585, we could see a rebound towards the 1.2875 resistance, with a break above to continue gains towards the 50-Day SMA by 1.3185 or the 100-Day SMA by 1.3480
Profit taking developed yesterday after new 16-month lows were posted. Gains have been continued in Asia and although this move is likely to be temporary our call for this morning is Cautiously Bullish above 1.2736.
Yesterday's highs were not maintained and the subsequent setback has deepened in Asia. This price action does not provide strong signals for sentiment but does leave a negative bias. Therefore our call is Cautiously Bearish below 1.3077.
EUR to USD: The market is now looking to establish below the critical 2011 lows from January 2011 at 1.2870 and a weekly close below this level will open the door for the next major downside extension towards the 1.2500 area. Overall, we retain a strong bearish outlook for this market and look for setbacks to extend towards the 1.2000 handle over the coming mon
