This candlestick combination formed in a downtrend after the pair reached the high at 1.4341 where the bulls could not solidify and the bears started to increase their influence. However, the pair rebounded near 1.3630.
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This candlestick combination formed in a downtrend after the pair reached the high at 1.4341 where the bulls could not solidify and the bears started to increase their influence. However, the pair rebounded near 1.3630.
There’s been a significant bullish breakout on this market. The Aussie has been clearly weak against the Euro. I’d like to wait to buy a pullback upon the turning of the trend to clear bullish, or I’d find a way to sell high, trading pro-cyclically.
he strength of the support at 1.3000, coupled with the clear-cut bullish divergence on the daily Stochastic and Momentum studies, helped accelerate the upward reversal which led to the recent Breakout through the upper resistance trendline of this chart pattern.
the pair is trading now above the level of 1.3700 and that's mean the uptrend is still standing and the pair might continue in it's upmovements heading to 1.3800 and then 1.3850
upward reversal which led to the recent Breakout through the upper resistance trendline of this chart pattern. The pair is expected to continue rising toward the Forecast Area set between price levels 1.3384 and 1.3603.
the pair and as we can see from the chart has closed it's daily candle under the level of 1.4000 , so , that's mean the down trend is still standing and the pair is heading to 1.3960 then 1.3920
The Euro is pressing against resistance 1.3370 for a second time since it was first rejected last US session. For the past two days, the pair has averaged over 150 pips gains, and looks like if the upside hurdle gets pierced, the Euro will be on track to keep up the strong upward pace.
Moody’s downgraded Portuguese debt by 4 marks moving it from a Baa1 rating to Ba2 which is considered junk status. As the fundamental picture still looks dim we can look for our trend to continue.
If a M15 close above 1.3969 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.3816 sell only and do not buy. If price closes back above it again do nothing
The range 1.3969 and 1.3816 is neutral area, any trade done in between is personal decision and not part of this analysis
Over the last 24 hours, the Australian Dollar has recovered much of the ground that it lost in the early part of the week. Support for the Aussie has shored-up as appetite for risk floods back into global markets and panic levels recede