The currency pair has set a local bottom at 1.5301 completing theslide from 1.5844. Technical indicators are neutral. Trading takes place above 50- day SMA, currently projected at 1.5583.
240 min. chart
As expected Eur/Usd dipped to 1.5589, few pips above the dynamic support at 1.5668 and built a reliable intraday bottom, before advancing well above the 1.5754 resistance. After reaching minor top at 1.5801 the pair consolidates above 1.5754 and later today will challenge 1.5837, where a reversal can be expected, that should set the beginning of the third part of the bigger corrective pattern since 1.5909 (03 July 2008). On the lower time-frames it is obvious, that current consolidation after 1.5801 is not over yet and there is one more downswing to come, to 1.5748, before advancing beyond 1.5801. Only a clear break below 1.5690 will confirm, that the corrective rise from 1.5610 is complete and decline to 1.5537 is on the run. Today's strategy: Early European session: Sell 1.5786 for 1.5754, S&R above 1.5797. American session: Buy on dips to 1.5754, stop below 1.5719, target at 1.5831.
11 July 2008 Current level - 107.13 The pair is in a corrective uptrend from the 95.75 short-term bottom. Technical indicators are flat and the upmove is dynamically supported at 104.74. The inner structure of the rise is by all means a corrective one, so from a larger point of view the overall downtrend from 124.14 is not over yet.
240 min. chart
Still in the consolidation below 108.59 and there is no clear direction while the pair stays in the 106.69-107.67 range. There is a reliable dynamic support, currently projected at 106.87 and break below 106.83 will show, that downtrend towards 104.98 is on the run. We are rather neutral while 106.83 or 107.67 are intact and will switch to either bullish or bearish only after breaking beyond mentioned levels. Today's strategy:Sell on a break below 106.83, stop above intraday high, first target seen at 105.86.
The pair is in a broad consolidation above 1.9338 and below 2.0397. Technical indicators are flat on the higher time-frames and trading is situated between the 50- and 200-day SMA, currently projected at 1.9685 and 1.9982.
180 min. chart
Now it is already clear, that the rise from 1.9651 is corrective in nature and after completing current consolidation, one more attempt downwards will be needed before renewing the major uptrend towards 2.0274. Intraday allow fast swing to 1.9811 to be followed by a slide, limited above 1.9697. From 1.9703-9697 we will expect minor uptrend to emerge, targeting 1.9845 in the last part of the corrective pattern since 1.9651. Today's strategy : Trade the 1.9811-1.9697 range and be ready to buy around 1.9703-1.9697 for 1.9845. Crucial is 1.9674.
These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Deltastock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Deltastock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Deltastock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.
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