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
Obviously with last week's minor top at 1.4906, the consolidation since 1.4629 has ended and the downmove is renewed for 1.4438. Although a clear break below 1.4671 is needed to confirm the bearish outlook, for now such a break looks inevitable. Today's strategy: Stand aside.
26 August 2008 Current level - 109.70 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
As the pair broke through 109.55 resistance it became clear, that the previous sell-off from 110.66 was just the final leg of the consolidation since 110.37. So with the recent bottom at 108.17 this corrective phase has ended and the uptrend is renewed for 113.01. Intraday allow one more minor leg downwards, to 109.37 before breaking above 110.27. 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
After topping at 1.8796, the pair has finished the corrective phase since 1.8512 and the overall downtrend has been renewed for 1.7934. Yesterday's consolidation has peaked at 1.8591, thus finalizing the rebound from 1.8512. Expect continuation of the downtrend towards 1.8321 and 1.8261. Today's strategy : Stand aside.
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