• EURJPY To Resume Uptrend?

    EURJPY To Resume Uptrend?

    The EUR/JPY pair may resume its uptrend after it appears to have found some footing at around the 141.00 area. A confluence of supports here in the resistance of a failure swing bottom pattern and its uptrend line should be enough to carry the euro afloat against the Japanese yen. Moreover, a spinning top that

  • EURUSD Poised For A Major Slide

    EURUSD Poised For A Major Slide

    Despite the taper news in the US, the EURUSD or the fiber still managed to rise from a 2013 low of around 1.2800 all the way to a year-end score of 1.37464. For a time, it appears that it would breakaway further as it was able to rise over the 1.3800 marker. A major long

  • EURNOK Aiming For The Stars Following A Rounding Bottom Break

    EURNOK Aiming For The Stars Following A Rounding Bottom Break

    We’re going exotic this time with EURNOK. As you can see from its weekly chart, the pair had broken out from a massive rounding bottom pattern when it moved outside of its neckline at 8.2000. Following the break, it actually made a “throwback” or a “return move” back to its mentioned previous resistance. It would

  • EURUSD Moved As Expected. What’s Next?

    EURUSD Moved As Expected. What’s Next?

    As a follow up to our previous post on EURUSD (kindly click here), the fiber indeed met some resistance at the 1.3290 – 1.3300 area after initially being pushed by better-than-expected German unemployment change and unemployment rate for the entire eurozone. At night, news of the 1.7% 2Q GDP growth of the US (versus 1.1%

  • Which Way Will The EURUSD Go?

    Which Way Will The EURUSD Go?

    July 31, 2013 (4:15 pm) – The EURUSD pair had been on an uptrend at least on its 1-hour chart. Recently, though, it has been trading within a rectangle pattern. As you can see, the fiber has swung between its resistance at around 1.3290 – 1.3300 and its support at 1.3240. Now the euro may

  • Chance To Ride The Missed EURJPY Breakout

    Chance To Ride The Missed EURJPY Breakout

    The EURJPY pair previously broke out from a continuation inverted head and shoulders pattern. This occurred when the euro surged against the Japanese yen to bring the pair over its resistance at 132.00. Following the breakout, the pair rose to a high of around 132.70. Since reaching the mentioned high, the pair has weakened and

  • Possible “Throwback” On EURUSD

    Possible “Throwback” On EURUSD

    The EURUSD pair or the ‘fiber’ as what they call it in the street has moved outside of its resistance 1.3175. Although as of late, the pair appears to have softened a bit, causing it to correct back to the mentioned level. The question now is, “Will the EURUSD bounce off of its former resistance

  • Falling Wedge Seen In The EURUSD

    Falling Wedge Seen In The EURUSD

    The EURUSD surged to a high of 1.3200 from 1.2800 yesterday on the back of ‘dovish’ comments by the US Federal Reserve Ben Bernanke. Since then, the fiber has corrected back to towards the 1.3000 level. In the process, the pair appears to have formed a falling wedge pattern. In our opinion, the pair may

  • Chance To Short The EURUSD?

    Chance To Short The EURUSD?

    The US dollar has strengthened against the euro during the last few days. Two major events actually contributed to the recent EURUSD slide. First was the ‘dovish’ statement of the European Central (ECB) Chairman Mario Draghi in which he mentioned that the low interest rates in the eurozone will stay for an extended period of