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STILL LONG EURUSD

EUR/USD

Posted on: July 26, 2015 at 2:47AM

Long / Short: Long

Current Price: 1

Target Price: 1

Analysis:

The situation of EurUsd is not so easy to interpret. Certainly the support of 1.0819 has resisted and this gives the chance of a development of a new upward impulse within the new trend in place since March. The recent completion is related to the formation of three downward waves with subsequent upward restart. This continues to suggest the possibility that the market may point towards the 200-day moving average which is converging towards area 1.14 / 1.15, the now very well known resistance level. The final break of 1.08, instead, would set the change to the lows of 2015.

Posted by: forextravel

USDMXN, EXCESSIVE UPWARD

USD/MXN

Posted on: July 26, 2015 at 2:46AM

Long / Short: Short

Current Price: 16

Target Price: 14

Analysis:

New historical lows for the Mexican Peso against the Dollar with a break at 16. The new downward phase in the price of oil feeds the selling but it is quite clear in terms of graphics that we are facing a speculative phase that is generating an upward excess of a bull market bullish in place now for 15 years. We are more over than the two standard regressing deviations, but also on the weekly RSI we can see clear differences. The historical record of short positions in the futures market of Mxn makes us not think that we should not be far from a top. So, we can start a short UsdMxn from this point, increasing the position under 15.58.

Posted by: forextravel

EURJPY, A MISLEADING HEAD AND SHOULDER

EUR/JPY

Posted on: July 26, 2015 at 2:41AM

Long / Short: Long

Current Price: 135

Target Price: 140

Analysis:

An important moment for EurJpy that keeps up its bullish trend in place since April 2015. After touching the 61.8% of retracement of the entire fall in December 2014 - April 2015, the cross has reacted by turning downward and actually continuing the formation of a typical figure of potential bearish head and shoulder. The neck line is positioned around 133.30 and therefore we know the support below which the view will completely change. Vice versa, the overcoming of 138 (potential right shoulder) would boost the bullish movement, sweeping away all doubts. However, at the moment, we prefer the long side.

Posted by: forextravel

EURCAD, the weakness of oil strikes again

EUR/CAD

Posted on: July 5, 2015 at 1:16PM

Long / Short: Long

Current Price: 1

Target Price: 1

Analysis:

As we can see from the chart, EURCAD has registered a candle known as bullish engulfing pattern last Monday, exactly behind the newborn bullish cloud. Whereas here the two corrective legs were matched in size and that the lagging line remains in a bullish position, except a bearish break of EurUsd of the support area 1.10, the next direction for EURCAD should be upward. If the movement above 1.40 were to take shape, then the bearish trend line and the 200-day moving average would be destroyed in just one shot, opening up new bullish ambitious possibilities.

Posted by: forextravel

EURUSD, SUPPORTS TEST

EUR/USD

Posted on: July 5, 2015 at 1:16PM

Long / Short: Long

Current Price: 1

Target Price: 1

Analysis:

The graph based on the technique of the Ichimoku Cloud shows that, not only the change EurUsd is resting on the support and on the trend line in place since April, but also that the lagging line (blue line) is doomed to rise (and therefore to see a growth of the EurUsd spot) if the market wants to keep up this little bullish trend for the Euro. Many oscillators are close to the short term oversold and then set the best way to project EurUsd again towards 1.15. Clearly a closure below 1.10 would stop this reaction of the Euro reopening the doors to parity.

Posted by: forextravel

EURAUD, ENDED WAVE 4

EUR/AUD

Posted on: June 27, 2015 at 12:11PM

Long / Short: Long

Current Price: 1

Target Price: 1

Analysis:

The strong retracement of EurAud at the beginning of the week should have run the chances of the Aussie buyers out. In fact, the cross is placed exactly on the 200-day moving average of 1.44, together with a second corrective leg that is equal in wideness to the first one. This should be the exhaustion of wave 4 that has accompanied the rise since late April. Whereas oscillators are gradually discharging and the fuel for acceleration towards 1.50 seems to be enough, not the word goes to the market. Certainly, we would be surprised of a downward break for EurAud.

Posted by: forextravel

EXTREMES SALES ON NZDUSD

NZD/USD

Posted on: June 27, 2015 at 12:10PM

Long / Short: Long

Current Price: 0

Target Price: 0.7175

Analysis:

The consecutive downward weeks of NzdUsd are now 10. We haven’t witnessed such a negative period in the last 10 years and only the correction of 2014 (10 falling weeks out of 11) can compete. But now NZDUSD has reached a technically important level, because there are some important static supports on its road, such as oscillators as the Stocastic Momentum Index in an extreme oversold position that in the past has sparked a reaction. Here we can therefore try the long setting a stop at 0.65 and target 0.7175.

Posted by: forextravel

EURJPY: GOLDEN CROSS IS COMING

EUR/JPY

Posted on: June 20, 2015 at 2:02PM

Long / Short: Long

Current Price: 138

Target Price: 142

Analysis:

After the formalization of the bullish head and shoulder figure by EurJpy, the targets have to be moved upward, at least until proven otherwise. With the overcoming of the neck line and 200-day moving average of 137.15, targets are moving by 10-11 figures higher, or the highest of December 2014. A model return move of EurJpy on the previous resistance and subsequent restart. To confirm the bullish hypothesis, we can also quote the forthcoming golden cross (50-day moving average that cuts the 200-day one) that is particularly reliable on EurJpy (see vertical bars). This view appears in line with the behaviour of UsdJpy, that is slowly unloading the overbought excesses, leaning on the support of 122. Selling Yen is still the best strategy to prefer.

Posted by: forextravel

Ambiguos EurCad

EUR/CAD

Posted on: June 14, 2015 at 5:47AM

Long / Short: Long

Current Price: 1.388

Target Price: 1.42

Analysis:

Two conflicting signals on EURCAD. The first one is the one concerning the formalization of a bullish head and shoulder after the break of 1.3820. The second one is the test of the 200-day moving average and down trend line in area in 1.41. Who will prevail between the two forces? The long-term bears (and then we should witness a return below the neck line resulting in an assault to the right shoulder of 1.343), or the fresh bulls that are leading the dances from April? Growth forecasts of EurUsd and the recent tear in oil prices would indicate the bullish road as the preferred one, but, as always, the price action will make a difference. A closure above the 200-day moving average of 1.394 is the signal that we are expecting to enter long.

Posted by: forextravel

EURZAR, SHORT ON THE STRENGHT

EUR/ZAR

Posted on: June 7, 2015 at 2:57AM

Long / Short: Short

Current Price: 14

Target Price: 13

Analysis:

The EurZar chart is based on the technique of the Ichimoku cloud on a weekly scale. We are still in a bearish trend with the trend line in transit at 14.40 that, along with the cloud, will meet the price soon. At that time we will play the game. In case of an upward break, then it will be better to set aside any idea of the short on the cross, but, as we are thinking, bears will come back soon, then we could try to enter short on EurZar. The stop loss should be placed a few pips above 14.40 while the target of the bearish movement might be identified in area 13.50.

Posted by: forextravel

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