ForexPros Daily Analysis August 31, 2010 Euro DollarYesterday’s headline for the EURUSD was “Slowly rising, signaling weakness”, and the Euro listened, and kept on falling from the weekly open, losing more than 130 pips from its Asian...
EURUSDThe pair succeeded in achieving the suggested scenario yesterday, especially after breaching support for the rising wedge and heading to the downside due to the negative pressure, in addition to the MA 50. Momentum indicators are showing...
EURUSDThe pair fluctuated near the previously breached pivot support levels at 1.2730, with attempts to stabilize above it. Note that, the last week’s closing level was exactly at these levels, accordingly, preserving our expectations of adownside wave during this week, supported...
EURUSD’s fall extended to as low as 1.2587. Key resistance is at 1.2921, as long as this level holds, downtrend is expected to continue and next target would be at 1.2500 area. However, above 1.2921 will indicate...
EURUSDThe pair was stuck above resistance for the previously breached bearish channel and below the retest level 1.2730; whereas momentum indicators lost bullish momentum and thereby maintaining chances of achieving yesterday’s suggested bearish scenario intact. We expect a...
EURUSDThe pair continues to fluctuate around resistance for the bearish short term channel until it recently breached this resistance at 1.2695, finally fluctuating to show a bullish technical pattern that is near completion.
USDCAD: We found this chart to be quite interesting. We are using a weekly chart below and what we clearly see is the range the CAD has been trading versus the Greenback. On a daily chart you...
EURUSD: The EUR closed below both the 100 day and 50 day moving averages. The candle that caused the fall also initially broke below the 38.2% Fibonacci Retrace level. This level is generated by using the low...
EURUSDThe pair pushed to correct the bearish wave mildly, according to the suggested scenario in yesterday’s reports and returned to negatively pressure it to resume trading within the current bearish trend. We notice that momentum indicators have...
EURUSDThe pair was able to achieve the suggested bearish scenario yesterday as it neared the initial key target around 1.2570, but managed to currently push for some bullish correction due to the positive signs which are appearing...
