EURUSD has broken up to 1.172 as predicted and returned to a range. NFPs will lead the way. The probable scenario is a continuation of the decline of the pair. A break of 1.165 will open 1.158 and 1.15 levels
iggy_ua's Blog
EURUSD trade update
EURUSD has pulled back after a spike to 1.16 and rebounded to 1.165. A further extension to 1.17 and then to 1.175 is traded with SL moved to 1.16
USD pull back
EURUSD has finished the last week with a strong close on Friday's highs. The daily move exceeded 20period ATR. Today's pull back presents an opportunity to join the EURUSD rebund from the current 1.16 level with SL at 1.155 and TP at 1.175.
EURUSD break through
EURUSD has broken through a resistance of 1.175. If the day closes above this level, a futher growth of the pair to be expected. Buy the pair tomorrow at the pull-back to 1.175 and SL at 1.17, TP at 1.16. Vice versa, a close below 1.175 will give a short position with SL above today's high.
Post NFP
NFPs came out with no negative surprises. As expected in many instances, the price would react against the straight forward news. EURUSD led by GBPUSD has neglected the initial fall. The price is approaching a ceiling of the triangle at 1.17. I'm selling at the current price, stop loss above 1.17 and TP at 1.16. Further move to retest the lows is probable after reaching 1.16
Dollar strength
Dollar rebound to continue this week. EUR as the biggest component of the index has shown resilience to the slide. However, the H4 chart indicates a break of the trendline on EURUSD which could lead to a drop of the pair to 1.235 from 1.242. The SL to be placed over 1.249
EURUSD 15 Jan 2016
| Pivot: 1.0895 Most Likely Scenario: short positions below 1.0895 with targets @ 1.0835 & 1.08 in extension. Alternative scenario: above 1.0895 look for further upside with 1.0945 & 1.0975 as targets. Comment: the upward potential is likely to be limited by the resistance at 1.0895. |
EURUSD eroded any fundamental expectations in the recent month. EUR advanced against the most currencies despite pure economic situation, negative interest rates and expected monetary easiing. The downward correction …