EUR/USD is in а downtrend from 1.6039 (15 July 2008). Technical indicators are descending and trading is situated below the 50- and 200-Day SMA, currently projected at 1.5677 and 1.5227.
240 min. chart
Yesterday's break above the crucial 1.4701 has set a inor bottom at 1.4629 and targeted the 1.4815 resistance. Crucial on the larger frames remains 1.4951 and intraday resistance comes at 1.4815. We hold on to our idea, that the downtrend from 1.6039 is not over and a test of the 1.4438 support lies ahead. Only above 1.4951 it will be clear, that a more significant bottom has been set at 1.4629. Intraday there is a risk of one more upswing to 1.4852, before next leg downwards to 1.4438. Today's strategy: Stand aside.
20 August 2008 Current level - 110.09 The pair is still in the broad consolidation since 95.75 short-term bottom, aiming at 111.03. Trading is situated above the 50- and 200-day SMA, currently projected at 107.09 and 106.62.
240 min. chart
Yesterday's attempt to break above 110.37 failed and the pair reached new minor bottom at 109.58, which we believe to be the final of the consolidation since 110.66. So expect a break above 110.32 to clear the way for 111.03. Today's strategy: Stand aside.
The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels below 1.85 . Trading is situated below the 50- and 200-day SMA, currently projected at 1.9752 and 1.9853.
180 min. chart
Still in the consolidation above 1.8512 and there are no clear signsm that this corrective pattern has already ended, but we favor the idea, that today's sell from 1.8683 is the beginning of a new downtrend, aiming at 1.8401. Intraday resistance comes at 1.8636. Today's strategy : Sell for 1.8401, stop above 1.8673, add on a break below 1.8541.
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