Forex Bio

Technical Analysis for EURUSD 7 May 2010

The EURUSD continued its bearish momentum yesterday, bottomed at 1.2523 and closed at 1.2619 but corrected higher earlier today in Asian session, touched 1.2677. The bias is neutral in nearest term and I am anticipating some upside correction after significant bearish, but the main scenario remains to the downside and I am still in bearish mode especially if price able to break minor support around 1.2550 area today, re-testing 1.2520 region. Break below 1.2520 could continue bearish pressure...

Technical Analysis for EURUSD 5 May 2010

The EURUSD continued its bearish momentum yesterday after breakdown from the triangle, bottomed at 1.2981, closed at 1.2988 and keep moving lower around 1.2977 at the time I wrote this comment. The bias is bearish in nearest term targeting 1.2880 – 1.2850 area especially if price continue to push lower and break below 1.2920 support area today. Immediate resistance at 1.3060/50 area. Break above that area could trigger further minor bullish correction testing 1.3130 region but overall the...

Technical Analaysis for EURUSD 4 May 2010

The EURUSD had a bearish momentum yesterday, bottomed at 1.3154 but closed a little bit higher at 1.3193 and traded around 1.3209 at the time I wrote this comment. On h1 chart below we can see that price is moving in triangle formation indicating consolidation but still within a major bearish context. The bias is neutral in nearest term but the fact that price failed to continue its bullish momentum above 1.3267 – 1.3330/40 region should keep the bearish scenario intact especially if price...

Technical Analysis for EURUSD 29 Apr 2010

The EURUSD didn’t make significant movement yesterday, move in range area of 1.3115 – 1.3265 in a volatile market. The bias is neutral in nearest term but the main scenario should remain to the downside. Immediate resistance at 1.3267 area. Break above that area could trigger further bullish momentum testing 1.1.3300/30 region. Initial support at 1.3150. Break below that area should maintain the intra-day bearish bias testing 1.3100 – 1.3080...

Technical Analysis for EURUSD 26 Apr 2010

As you can see on my daily chart below, the bearish pressure seems to have a strong support around 1.3267/00 area which is a bottom at this phase. Although major technical bearish outlook remains intact as Euro fundamental situation remains fragile, this bottom could lead to a bullish momentum in nearest term testing 1.3500 area especially if price break above 1.3415 area today. We need a clear break below 1.3267/00 area to continue the bearish scenario testing 1.3100...

Technical Analysis for EURUSD 15 Mar 2010

The EURUSD had a moderate bullish momentum yesterday. On h4 chart below we can see that price slipped above the bullish flag but bullish momentum seems limited so far. I still prefer a bullish scenario but we need a convincing movement above the flag and 1.3700 area to continue the bullish scenario targeting 1.3830 region this week. Immediate support at 1.3580. Break below that area could be a threat to the bullish flag upside scenario and lead us back into no trading zone testing...