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  • EUR/USD: Falling Towards Trend-Line Technical Analysis 16th July 2014

    The EUR/USD pair has broken below the S1 monthly pivot at 1.3564 and is currently moving lower. If it breaks below the 1.3544 confirmation level it will probably extend down to the level of the major trend-line drawn from June 2012 at 1.3517, which is expected to exert strong support.

    The very short-term up-trend is now in doubt, although the short-term trend - which I define as roughly corresponding to the period of time since the move down from the May highs - is bearish. The medium term trend remains bullish - further complicating matters. Ultimately the direction of the currency is dependent on the fate of the major trend-line at 1.3517. If it holds the mid-term bull will rise again; if it breaks we may see a strong move down and new price paradigm in the early 1.30s.

    (click to enlarge)

    Analysis by: LigaForex Analyst

    Jul 16 7:11 AM | Link | Comment!
  • GBP/USD: Upside Bias Despite Volatility Technical Analysis

    Cable had been forming a flag pattern on the 4-hour chart but then some sudden volatile price moves led to a break - first of support to the down-side and then of resistance to the upside - all in one day. That up-move has since pulled-back into the range again where it is currently consolidating.

    My expectations continue to be for a bullish continuation higher despite the strange volatile price action of the previous day, which technically speaking formed a key reversal. Because price action recovered after it broke lower and ended the day bullishly, however, I don't see the key reversal as a strong bearish signal.

    For a continuation of the trend higher, I would like to see a break above the previous day's new highs at 1.7190, with an initial target at the R1 monthly pivot situated at 1.7250.

    (click to enlarge)

    Analysis by: Liga Forex Analyst

    Tags: gbpusd, gbp/usd
    Jul 16 7:05 AM | Link | Comment!
  • EUR/USD: Down-Move Rotating Technical Analysis 17th April 2014

    EUR/USD has recovered and started to move higher. It has broken above the key highs at 1.3833 and a resumption of the up-trend looks probable from here, although a move above 1.3851 would provide a clearer sign, and see an extension up to 1.3880, closing Monday's still-open gap in the process. The weekly chart still looks very bullish with that long engulfing candle last week, and the hold above the 2008 major trend-line. The short-term trend is less clear, but a move above 1.3851 would, I think, re-establish the up-trend as dominant short-term.

    (click to enlarge)

    Analysis by: Joaquin Montfort LigaForex Analyst

    EURUSD Analysis - 17th April 2014

    Apr 17 6:36 AM | Link | Comment!
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