EUR USD

[PCMNewsdesk]

As we had estimated last Monday the currency pair was able to fulfill a turnaround after it recovered at the support level around 1.2756. Supported by the rising Stochastic a continuation of the bullish trend might be possible it the pair succeeds to cross the next hurdle.

[Samirofi]

July 16

Currencies-market showed positive performance yesterday for many currencies against the dollar, where dollar tried today to compensate these losses today, where trades still narrowed as markets are weighing for Bernanke’s speech.

Dollar notices instable trades recently on speculation that the Federal Reserve Bank will cut monetary easing, which curbed risk-appetite among investors whom preferred to wait for Bernanke’s speech.

Moreover, despite yesterday’s decline for the dollar against other currencies, the dollar keeps its power today against majors according to the current improved data over the U.S. economy.

EUR/USD pair inclined yesterday to high of 1.3173, where the pair currently trade near 1.3140. GBP/USD pair traded now near 1.5114 after yesterday’s high of 1.5167.

USD/JPY pair inclined during today’s Asian session to record high of 99.53, while the pair currently moves around 130.56.

Australian dollar inclined yesterday against its counterpart American dollar to its highest in three days at 0.9259, before trading now near 0.9234.

[Samirofi]

EUR USD reaches the initial targets 17/07/2013



The pair succeeded to achieve the waited rise yesterday approaching from our first main target at 1.3200, showing some slight bearish bias now affected by Stochastic negativity, and it might lean on 1.3125 before resuming the bullish trend.

And in general, the bullish trend will remain valid and preferred on the intraday basis, pointing that breaching above 1.3200 will open the way for heading towards 1.3400 followed by 1.3485, while breaking below 1.3125 will stop the bullish bias temporarily.

Expected trading range for today is between: 1.3060 support and 1.3300 resistance.

Expected trend for today: Bullish

[Samirofi]

EUR USD pushes negatively 18/07/2013



The pair closed yesterday’s trading with bearish bias, closing the dialy candlestick at 1.3125, keeping the chances valid for the return of the intraday bullish trend, where we are waiting for targets that extend towards 1.3400, conditioned by breaching 1.3200 besides holding above 1.3125 and the most important above 1.3060.

The EMA50 supports the positive chances, besides Stochastic heading towards the oversold areas.

Expected trading range for today is between: 1.3060 support and 1.3300 resistance.

Expected trend for today: Bullish

[PCMAnalyst]

time h4

pattern : triangle

[PCMNewsdesk]

After the bulls pushed the rate up above the bullish Fibonacci fan from the support level around 1.2767 on the 9th of July, the rise of the currency pair was stopped at the resistance level around 1.3121 and moved into sideways trend by currently trading above the level around 1.3121 as well as approaching the upper fan line. According to contradicting signals of both indicators, a continuation of the sideways movement is likely if the pair fails to cross the next hurdle.

[PCMNewsdesk]

Since the beginning of July, the EUR could strengthen against the USD and recovered above the 23.6 Fibonacci retracement level. The support level round 1.3088 should be a great basement for the start towards the 1.32. The next resistance shows up at the 38.2 Fibonacci at 1.3150. The greenback lost 0.3 percent to $1.3143 per euro at 5 p.m. New York Time, expanding a weekly drop to 0.6 percent.

[PCMNewsdesk]

Since the beginning of this month, the EURUSD has been strengthening above a bullish Fibonacci fan. But the resistance level around 1.3202 proved to be too strong to cross and forced the rate into a sideways trend with slowly increasing. Currently, the pair is once more struggling with the resistance, while all indicators support a further rebound so far.

[PCMNewsdesk]

We can see an upcoming flag formation. The breakout will decide which direction will be superior for the mid-term investments. Statistically the price bounces and touches the flag borders five times before breaking out. For good traders it is possible to trade those touches – but please note the prices can touch the limits twice before coming back to the other limit. Greatest support from this level seems to be the 1.32, which is also a great psychological support.

[PCMNewsdesk]

“If you look at how euro-region data hasprogressed recently, we’ve tended to see more upside surprises,” saidSteve Barrow, head of Group of 10 researches at Standard Bank Plc. inLondon. “There’s a relative improvement in the perception of euro-zonedata, which is helping the euro.”