Technical Analysis

Technical Outlook

EURUSD breaks low support on Draghi and Greece issue

30-May-2017 @ 12:10 PM

EUR/USD is clinging to support at 1.1120, but only just. This is one leg lower from the previous support line of 1.1160 and almost 150 lows from the cycle of 1.1266.

1.1120 worked as support back in October 2016 and returns to its old role. Further support awaits at 1.1050, followed by 1.0950, which was the initial post-French elections high.

Draghi drag

The President of the ECB initially provided optimistic words. He saw the glass half-full by saying that downside risks have diminished and said that growth .........

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GBPUSD fights to recover as UK polls continue tightening

30-May-2017 @ 12:04 PM

GBP/USD made an attempt to recover and is now sliding once again. UK PM Theresa May and Labour leader Jeremy Corbyn both gave lengthy interviews to Jeremy Paxman. The formidable interviewer clashed with both of them.

Some analysts suggest that Corbyn “beat expectations”, yet these expectations were set quite low. The debates usually fail to make a difference for most voters that have already made their minds.

However, politics never stay too far from the movements in the pound. Opinion polls continue flowing .........

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GBPUSD Facing Bearish Pressure Below Physiological Level

22-May-2017 @ 03:28 PM

Gbpusd is facing some bearish pressure below the physiological level at 1.3000. It opened with a gap on the downside. It tried to recover the gap but still not getting enough bullish momentum. If this pair stays below 1.3000 level, then bearish rally can be expected. 

Trump’s woes have hurt the dollar, but the US economy remains solid. There are growing concerns about the British economy, with the BoE warning that living standards will drop as a result of Brexit, Still, .........

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EURUSD Forming Bearish Momentum

22-May-2017 @ 03:11 PM

EURUSD has formed some bearish engulfing pattern at the top of the bullish rally. On h4 time frame, inverted hammer pattern has been formed which is indicating some bearish momentum. It seems that sellers are active at this moment and traders can go for sell for short time. Near-term support zone lies on 1.1075. 

Earlier EURUSD has had three significant and rising lows in 2017: 1.0340 in the wake of the year, 1.0490 in March and 1.0565 in April. Also on the topside, .........

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EURUSD Bullish Momentum Targeting Physiological Level

15-May-2017 @ 02:29 PM

Euro/dollar started off the week with bullish momentum. Last week, this pair has pulled back from support level held at 1.0840-50. Now, this pair is gaining bullish momentum again and targets toward 1.1000 level. Strong bullish candle suggests for bullish power on this pair. 

Technical lines from top to bottom:

1.1299 is the top line seen in November before the collapse. 1.1119 was a support line beforehand.

The round number of 1.10 is a key psychological level. 1.0949 is close by, and the .........

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