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
Still in the broad consolidation since 1.4629 and current target remains 1.4951, but with yesterday's minor top at 1.4906, intraday expect a break below 1.4861 to target 1.4810-16, before the final swing unwinds upwards to 1.4942. Today's strategy: Stand aside.
22 August 2008 Current level - 109.04 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
After reaching a local bottom at 108.17, the pair entered a larger corrective phase towards 109.55. We expect the trading activity to be limited below that resistance, for renewing the downtrend towards 106.36. 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
Our minor target at 1.8803 has almost been reached, so downward phase is likely to follow, towards 1.8681 before one final attempt to 1.8918. Below 1.8539 it will be clear, that the downtrend has been renewed for 1.7932. Today's strategy : Stand aside.
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