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  • EUR/USD: Breaking Below H&S Neckline | Technical Analysis 12th Decmber 2013

    EUR/USD has started to pull-back from its recent highs. It is probably just a temporary correction of the dominant up-trend, which is likely to resume once it has completed.

    (click to enlarge)

    A reversal in price and a move above the 1.3779 highs would provide excellent confirmation of such a move. Resistance, however, is situated not far above at the 1.3828 from the R2 monthly pivot and this is the next target higher. Currently, however, price looks like it is breaking below the neckline of a tentative small head-and-shoulders pattern at the 1.3725 lows, leading to a probable break lower to a target at 1.3665.

    Analysis by: Joaquin Montfort Liga Forex Analyst on EURUSD

    Dec 13 6:55 AM | Link | Comment!
  • GBP/USD: Breaking Down | Technical Analysis 12th December 2013

    The breakout from the flag pattern failed to follow through in the end and instead the exchange rate fell back down. It has been trading in a range-bound sideways move but is now breaking down out of that as well, and threatens to accelerate lower.

    A breakout from the consolidation at the highs could fall to support at 1.6115, although support from the monthly pivot at 1.6200 is another possible target. A bullish outlook is supported by long-term trends and a break above 1.6485 might provide confirmation of more upside, targeting 1.6550, although the current breakdown this morning makes that seem unlikely now.

    (click to enlarge)

    Analysis by: Joaquin Montfort - Liga Forex Analyst on GBPUSD

    Dec 13 6:50 AM | Link | Comment!
  • EUR/USD: Back Inside Rising Channel | Technical Analysis 9th December 2013

    EUR/USD has now moved comfortably back into the rising channel. This is a bullish sign and indicates that the pair will probably go higher. The medium-term trend is also up further adding to the bullish outlook. Price has reached the R1 monthly pivot, however, and this may lead to a pull-back, perhaps to support at 1.3675, but such a pull-back would probably only be temporary before the dominant up-trend resumed. Currently price is trying successfully to break above the R1, and given the strength of the rally so far it may succeed. Notwithstanding light resistance at 1.3750, The next target higher is the R2 pivot at 1.3828, followed by the major trend-line down from the 2008 all-time-highs at 1.3895.

    EUR/USD has now moved comfortably back into the rising channel. This is a bullish sign and indicates that the pair will probably go higher. The medium-term trend is also up further adding to the bullish outlook. Price has reached the R1 monthly pivot, however, and this may lead to a pull-back, perhaps to support at 1.3675, but such a pull-back would probably only be temporary before the dominant up-trend resumed.

    Currently price is trying successfully to break above the R1, and given the strength of the rally so far it may succeed. Notwithstanding light resistance at 1.3750, The next target higher is the R2 pivot at 1.3828, followed by the major trend-line down from the 2008 all-time-highs at 1.3895.

    (click to enlarge)

    Article by: Joaquin Montford - Liga Forex Analyst

    Dec 09 5:28 AM | Link | Comment!
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