EURUSD update 250313

Hello Fellow Traders,

Last week's trading witnessed even further bullish advance for the single currency, however only after having reached the 1.28350 level. At present the situation is held in the balance due to the Cyprus bailout negotiations. Once the resolution of this situation has been finalised and of course as long as it is in agreement with the ECB's terms and conditions then further bullish movement could be expected, with a movement to the 50% fibo level or around the 1.323 - 1.326 area of resistance.

Catch you all next week. 

EURUSD update 160313

Hello fellow trader,

Not the most exciting of weeks for Euro activity (especially on the D1) however it did confirm our bearish prediction to retest the 1.292 level (1.29107 to be precise), but overall the 100% fib is still holding strong. A fallback in the Greenbacks upward movement against the Yen coupled with the Aussie Dollar on the rise would indicate further bullish movement for the Euro against it's U.S. counterpart.

What to expect next week?
Further movement into the positive could well bring the pair into contact with resistance levels 1.323 - 1.326 bringing it once more to 61.8% which would then start the formation of a nicely defined `head and shoulder'

Catch you all next week. 

EURUSD update 100313

Hello fellow trader,

Some very sluggish trading this past week on the single currency almost to the point of stasis, however it did make a small rebound of off the 100% fibo but hardly enough to reach anywhere near the 61.8% level. Such a weak rebound would suggest further bearish moves, and is probably awaiting a correctional retracement of the Greenback against the Yen before it will itself move upward.

What to expect next week?
I see a further move to retest 1.292 and perhaps even further downward. This downward trend sure is a large one and as such a correction is on the horizon very shortly. Who knows we may be in for some surprises.      

EURUSD update 260213

I realise this is an early update entry, however it would seem our forecast for a 100% fibo retracement has just about taken place despite only coming within 17 pips of the 1.3 mark. Already today's D1 candle is above it's opening position of 1.30601 so I would well expect a correctional rebound to the resistance area of 1.32 - 1.37 bringing it to if not close to the 61.8 fibo. This could then see the development of a `head and shoulder' as PA makes it's way back down again. This forecast could be considered presumptuous since both the CCI and the HA are still pointing downward but a 100% retracement is very significant making a correction I would say imminent.

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EURUSD update 230213

Hello fellow traders,

As of the end of last week's trade the EURUSD closed at 1.31887, back on the 041011 this point provided a strong support area. However at present it is now situated below the fibo 61.8% which held as a weak support and as such consequently shows no sign of correction just yet. Therefore it seems reasonable to suggest that a 100% D1 retracement is now inevitable. In conclusion the 1.30 - 1.31 area of support forecast in the last week's update still holds.

See you all next week.