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  1. #1
    Legendry Member willyw's Avatar

    EUR/USD Weekly by Willy - Moved !!!

    Hi members, I have started a new thread for techncial analysis for all the ccy pairs in one single thread. As such this thread will be closed.


    My new thread for my technical analysis is http://forums.binaryoptionsthatsuck....nical-Analysis




    EUR/USD WEEKLY as of Monday, 14 January, 2013
    Euro Dollar / US Dollar broke above the upside resistance level of 1.28, 7 week(s) ago. This is a bullish sign. This previous resistance level of 1.28 may now provide downside support. Trading Euro Dollar / US Dollar, would be to place a stop loss just below the resistance level, in case the breakout is premature. EUR/USD have risen by 2.75% since the breakout.
    Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
    The present wave patterns are:
    fast amplitude (8%): bearish wave 4
    moderate amplitude (13%): bullish wave 2
    Euro Dollar / US Dollar is long term Bearish as the 144 days moving average of 1.33 is decreasing. The Relative Strength Index is at 62.01 in the neutral territory. The Relative Momentum Index is at 63.09 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.03, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 84.46. This value is in the overbought territory.
    Elliott Waves High Volatility has detected an Isolated Low at 1.30 one bar ago ; this is usually a bullish sign.
    Having reach a Weekly minor wave bottom 8 period(s) ago at 1.2666, prices are currently moving upwards. TARGET 1: 1.3353 (Moderate Retracement)
    TARGET 2: 1.3777 (Extension)
    TARGET 3: 1.4464 (Extension)
    Projected Time: 6 period(s) (Moderate Retracement)
    Projected Time: 10 period(s) (Extension)
    Projected Time: 16 period(s) (Extension)
    Projected Time: 20 period(s) (Expansion)
    Target 1 is a significant Fibonacci level. It is a reversal level. If prices cross through this level, the previous trend is completed and the current target extended. If prices penetrate through Target 2 Fibonacci level, indicates that the trend is exceptionally strong and Target 3 Fibonacci levels will be the subsequent target.

  2. #2
    Senior Member Deanfx's Avatar
    For me it looks like we have a double top in the EUR/USD pair on H4 charts and also 1.3430 is a strong resistance from february 2012 top, so I think we will go south in the next few weeks. That's why I will try to enter weekly or monthly puts.

  3. #3
    Legendry Member willyw's Avatar
    Quote Originally Posted by Deanfx View Post
    For me it looks like we have a double top in the EUR/USD pair on H4 charts and also 1.3430 is a strong resistance from february 2012 top, so I think we will go south in the next few weeks. That's why I will try to enter weekly or monthly puts.
    EUR/USD WEEKLY as of Monday, 21 January, 2013
    Euro Dollar / US Dollar appears to be locked in a triangle formation bounded by a down trendline and an up trendline. The most recently confirmed down trendline for Euro Dollar / US Dollar has an ending point currently at 1.47. Expect prices to have some difficulty rising above this trendline. A break above this trendline would be a bullish sign. The most recently confirmed up trendline for Euro Dollar / US Dollar has an ending point currently at 1.21. Expect prices to have some difficulty falling below this trendline. A break below this trendline would be a bearish sign.
    Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
    Elliott Waves High Volatility has detected a violation of the trendline. This could mean a reversal of the trend to bullishThe present wave patterns are:
    fast amplitude (8%): bearish wave 4
    moderate amplitude (13%): bullish wave 2
    Attached Thumbnails Attached Thumbnails eur-wave-w.jpg  

  4. #4
    Master Member vinayakm's Avatar
    Quote Originally Posted by willyw View Post
    EUR/USD WEEKLY as of Monday, 21 January, 2013
    Euro Dollar / US Dollar appears to be locked in a triangle formation bounded by a down trendline and an up trendline. The most recently confirmed down trendline for Euro Dollar / US Dollar has an ending point currently at 1.47. Expect prices to have some difficulty rising above this trendline. A break above this trendline would be a bullish sign. The most recently confirmed up trendline for Euro Dollar / US Dollar has an ending point currently at 1.21. Expect prices to have some difficulty falling below this trendline. A break below this trendline would be a bearish sign.
    Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
    Elliott Waves High Volatility has detected a violation of the trendline. This could mean a reversal of the trend to bullishThe present wave patterns are:
    fast amplitude (8%): bearish wave 4
    moderate amplitude (13%): bullish wave 2
    I hope there was someone out there who covered the Euro Group Meetings and if there were any ramifications for the Euro. I am from the Bay Area and it's pretty difficult to keep up with what's happening across the pond at times. For the moment, I've been catching the action over the web and I see that the EUR/USD has declined.
    I got a weekly call on that expiring Friday that I managed to lock in at 1.3251 that should stand hopefully.

  5. #5
    Legendry Member willyw's Avatar
    EUR/USD DAILY as of Tuesday, 22 January, 2013
    Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
    An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 21/01/13. This is usually a trade set-up opportunity The present wave patterns are:
    fast amplitude (8%): bearish wave 4
    moderate amplitude (13%): bullish wave 2
    Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.30 is increasing. The Relative Strength Index is at 58.72 in the neutral territory. The Relative Momentum Index is at 70.05 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.02, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 67.77. This value is in the neutral territory.
    Elliott Waves High Volatility has detected an Isolated High at 1.34 one bar ago; this is usually a bearish sign that is not to be used alone! Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bullish pattern! It should be used with other indicators.
    Attached Thumbnails Attached Thumbnails eur-wave-d.jpg  

  6. #6
    Veteran Member uj.forex's Avatar
    Euro MUST close ABOVE 1.3330 level tonight to remain bullish... lets stay out of the market for today... Draghi's speech coming up in a few hours time..

  7. #7
    Solid Member Peter Green's Avatar
    The market is still ranging, but it test again the lower boundary of the range at 1.3270. The price action shows me that the bullish scenario is less and less probable with every tick. So I will take a put in the first good upside retracement.

  8. #8
    Solid Member Peter Green's Avatar
    After the 1.34 breakout my previous scenario is no longer active.. I think now the longs are in play and next week we will see a test of 1.35. I will search for a call opportunity next few days.

  9. #9
    Legendry Member willyw's Avatar
    EUR/USD WEEKLY as of Tuesday, 29 January, 2013
    A Weekly black body has formed (because prices closed lower than they opened).
    For the past 10 Weekly candlestick bars as of 28/01/13, there are 6 white candles versus 4 black candles with a net of 2 white candles.
    For the past 50 Weekly candlestick bars as of 28/01/13, there are 26 white candles versus 24 black candles with a net of 2 white candles.
    A Weekly spinning top has formed (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action as defined by the difference between the open and the close. During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
    Euro Dollar / US Dollar appears to be locked in a trading range bounded by upside resistance and downside support. The most recently confirmed upside resistance level for Euro Dollar / US Dollar is around 1.49. Expect prices to have some difficulty rising above this level. A break above this would be a bullish. The most recently confirmed downside support level for Euro Dollar / US Dollar is around 1.21. Expect prices to have some difficulty falling below this level. A break below this level would be a bearish sign.
    Attached Thumbnails Attached Thumbnails eur-candle-w.jpg  

  10. #10
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by vinayakm View Post
    I hope there was someone out there who covered the Euro Group Meetings and if there were any ramifications for the Euro. I am from the Bay Area and it's pretty difficult to keep up with what's happening across the pond at times. For the moment, I've been catching the action over the web and I see that the EUR/USD has declined.
    I got a weekly call on that expiring Friday that I managed to lock in at 1.3251 that should stand hopefully.
    the euro meeting wasn't that important. It was just a discussion and not a policy meeting. Euro is consolidating in a range and needs a catalyst to break above 1.3500. This weeks FOMC meeting, and especially the statement they release concerning the state of the economy and the future of QE is a possible one, another is any developments in debt ceiling, US debt scenario.

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