EUR-USD Technical Analysis 21 February 2012

There is a sign that EUR-USD might want to break the 1.3311 level as Stochastic and MACD on the weekly time frame are both moving upwards direction. However traders are very cautious on the consequences as the long-term bearish trend is still fresh and strong. So the ideal intermediate direction should be moving side ways. The range of trades is expected to fluctuate within 1.3294 and 1.3051. We will wait and see if there is the unexpected happens.

EUR-USD Technical Analysis 13 February 2012

Never say never, indeed the EUR-USD is closed to reach the 1.3320 level as discussed in the previous "EUR-USD Technical Analysis". Based on the historical level, this could be the strongest support level for correction. Anything beyond that should be temporary. However that does not meant the price will be starting to go down very soon, based on the MACD and Stochastic indicators there is already sign of flags formations upward for this weeks and the coming week. Otherwise if the unexpected happens it could break higher.

EUR-USD Technical Analysis, 2 February 2012

As discussed on the last post EUR-USD Technical Analysis 21 Jan 2012, the fiber should be bullish (intermediate) for the entire remaining week of January. Despite of showing weaknesses after reaching resistant 1.3228 level there is still possibility it could go higher to 1.3332 level. However that would be depending on huge luck if anyone dare to enter buy position at this point :). The long-term bearish trend is still long way to go and the fuel to burn is still a lot more. Based on the chart we can foresee that it will be going down for many months to come. We wait and see.