Technical Analysis Nov.25th
EURUSD As it turned out, the bears were not ready to break the defense at 1.2360 yesterday, and EURUSD went up by 60 pips as a result. However, the upside potential is limited—there is a down-trend at 1.2525. Accordingly, we may expect elevated volatility in the nearest future, when one of these levels is breached. […]
Technical Analysis Nov.24th
EURUSD Since EURUSD confronted the falling resistance line last week and failed to violate it, the overall downward trend should remain intact. However, in order to confirm the long-term bearish intentions, the currency pair must push through the demand at 1.2360, represented by the monthly S1 and, even more importantly, this year’s minimum. Once this […]
Technical Analysis Nov.19th
EURUSD The Euro managed to pare Monday’s losses yesterday after rebounding from the weekly S1 at 1.2428. Nevertheless, the near-term outlook remains bearish—the four-month down-trend is still intact. Even if it is breached, there are resistances at 1.264 and 1.274 that are highly unlikely to allow EURUSD to sustain a recovery for long. Only violation […]
Technical Analysis Nov.18th
EURUSD Although EURUSD appeared to be in a good position to advance towards the monthly pivot point after finding the support at 1.2360 (monthly S1), the bears at 1.2580 forced the pair to retreat. Yesterday’s sell-off also showed the market started to respect a new downward-sloping resistance line that may be drawn through the highs […]