Thursday 12 March 2015




EUR/USD reached 1.05 and even broke below that level but it also finally moved to the upside after forming a doji candlestick in the four hour filter chart. That said, I am sure that move to the upside is only the beginning of another consolidation before the pair continues on its way down to parity. Currently there is no indication that the bearish trend is at an end so such a consolidation is only an excellent opportunity to open new short positions. Personally, I expect that the consolidation might reach target 1.0800 -1.0820.
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7 comments:

  1. Unknown12 March 2015 at 17:10

    Still consolidating.

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  2. Unknown12 March 2015 at 17:34

    good pullback, but the downtren is still in place.

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  3. Anonymous13 March 2015 at 03:14

    On Yesterday session the EURUSD rallied on the back of unexpectedly weak U.S retail sales data. The pair is taking a pause to breathe, on an aggressive pullback we could go to 1.0835 and a break below the 1.05 handle we should continue to the next level of 1.04.

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  4. bewayopa13 March 2015 at 14:20

    The support of $ 1.05 was reached very quickly.
    In a long term chart on a logarithmic scale where is best seen as the minimum of the Thursday session (1.0493) coincides, to 'tick', with the base of the descending channel in recent years (by definition support).

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  5. Unknown13 March 2015 at 17:51

    At this point, particularly with FOMC meeting next week, parity may happen sooner than we expected.

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  6. Unknown14 March 2015 at 03:58

    Interesting pullback.

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  7. Unknown15 March 2015 at 07:19

    Let's see if the price will continue the downtrend or the support level will push the price for correction on Monday.

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