EUR USD

[PCMAnalyst]

We can see the upper area of the triangle is being violated in the weekly TF. We still expect to have it climbed by stabilizing above 1.3400.

[PCMAnalyst]

The price is playing above the internal up trend line on the H4 TF. We expect to have it declined if 1.3450 is broken below.

[PCMAnalyst]

The price is on the bullish trend line in the H1 TF. we are expecting to have the price climbed if the positive hidden divergence proved it.

[PCMAnalyst]

The price is on the bullish trend line in the H1 TF. we are expecting to have the price climbed if the positive hidden divergence proved it.

[PCMAnalyst]

The price is making a bullish channel on the H4 TF and we can see it reversing after formation of the harmonic pattern on the lower channel. As long as the lower channel is not broken, the bias is still expected as bullish.

[PCMAnalyst]

The price is making a bullish channel on the H4 TF and we can see it reversing after formation of the harmonic pattern on the lower channel. As long as the lower channel is not broken, the bias is still expected as bullish.

[PCMAnalyst]

We can see a bearish divergence happening on the H1 TF. We expect to have the price dropped if 1.3650 support is broken lower.

[PCMAnalyst]

We can see the upper area of the triangle is being violated in the weekly TF. We still expect to have it climbed by stabilizing above 1.3400.

more..........

[PCMAnalyst]

We are seeing 2 harmonic pattern – Alt bat , ab=cd – on the daily TF. we expect to have a drop by the price if the condition goes well.

[Raam]

EUR/USD Forecast November 4-8

EUR/USD had a terrible week, falling around 300 pips. Is the pair oversold, the euro is now in the hands of ECB President Mario Draghi and the rate decision becomes even more important that normally. In addition, manufacturing and services PMIs, employment and industrial data will also move the common currency. Here is an outlook for these events among others, and an updated technical analysis for EUR/USD, now on much lower ground.
European data disappointed on all fronts,including a rise in unemployment and a drop in German retail sales. The biggest shocker for the euro came from a big drop in inflation: 0.7% YoY, very far from the ECB’s 2% target. Together with the not-too-dovish US FOMC statement, the pair had a clear direction to go: down, and even dipped below long term uptrend support.

EUR/USD Technical Analysis

Euro/dollar started the week holding on to the 1.38 line (mentioned last week). This didn’t last too long and the pair began falling. The move accelerated once the pair lost the 1.3710 line and couldn’t recovered. A temporary pause was seen above 1.3570 but the pair continued lower, eventually dipping below the long term uptrend support line. The break still needs to be confirmed, as we’ve seen false ones in the past.




Technical lines from top to bottom:

We start from lower ground this time. 1.3940 was a peak in September 2011, over two years ago, and is just before the round number of 1.40. 1.3870 capped the pair during the fall of 2011 and served as the “shoulders” in a H&S pattern.
1.38 is a round number and also worked as a temporary cap during that period of time and also in October 2013. 1.3710 was the 2013 peak, and served as a clear separator. The pair needed a big trigger to break above this line, and when it lost it again, the fall was painful.
1.3650 temporarily capped the pair during that period of time and is stronger after capping the pair in October 2013. It returns to serve as resistance. 1.3570 is the swing high of September 2013 and also proved itself as resistance afterwards. It temporarily stopped the avalanche.
The very round 1.30 line was a tough line of resistance. In addition to being a round number, it also served as strong support and recently worked as a pivot line.