Forex Bio

Technical Analysis for EURUSD 25 March 2010

EURUSD Forecast: The EURUSD dropped significantly on Portugal downgrade yesterday. Price break below 1.3450/35 key support area, confirms technical bearishness targeting 1.3100 this week. Trichet is going to speak today and it make sense for me that probably he will say something “positive” about the Euro zone or the Euro to prevent further and faster drop. Whether market will believe it or not is something I’d like to see. Immediate resistance at 1.3380 area. Break above that area could...

Technical Analysis for EURUSD Daily Forecast: February 23

EURUSD Forecast: The EURUSD didn’t make significant movement yesterday. The main trend remains bearish but as you can see on my h1 char below price still move inside the minor bullish channel indicating the bullish corrective movement actually still intact with technical target around 1.3750 area but we need a consistent move above 1.3650 to continue the upside corrective movement. The bias is neutral in nearest term but I still prefer a bearish scenario as traders’ sentiment for Euro zone...

Technical Analysis for EURUSD 17 Feb 2010

EURUSD Forecast: The EURUSD had a significant bullish correction movement yesterday, topped at 1.3778 and closed at 1.3765. On h4 chart below we can see that my falling wedge formation has been violated to the upside confirming further bullish correction targeting 1.3850 before testing 1.4030 area. However, note that the major bearish scenario should remains intact as long as price is moving inside the bearish channel and the current bullish momentum should be seen just as corrective movement....

Technical Analysis for 12 Feb 2010

EURUSD Forecast: The EURUSD touched 1.3595 level yesterday as Brussels summit failed to give a detail plan of the rescue package for Greek but closed significantly higher at 1.3692. Although market seemed disappointed with the absence of the detail, the fact that Euro bounced to the upside may indicate that traders still expect a convincing rescue plan. The situation can be very tricky at this phase. Unless EU come up with satisfying detail, Euro should keep under heavy...

Technical Analysis for EURUSD 13 Jan 2010

EURUSD Forecast: The EURUSD made indecisive movement yesterday. The bullish momentum after breakout from the previous range of 1.4250 – 1.4450 seems limited so far and looks like price is trying to make another choppy market. However, as long as price stay above 1.4450 area, the bullish scenario targeting 1.4600 should remains intact. Break below 1.4450 should be seen as potential bullish failure re-testing 1.4250 area once...

Technical Analysis for EURUSD 11 January 2010

The EURUSD made a significant movement this morning by break above range area. This fact should be seen as bullish confirmation at least targeting 1.4600 area before aim for 1.4800 area. Immediate support at 1.4450 area. Break below that area should lead us into no trading zone as direction would become unclear for me but could be considered as a false breakout and trigger further bearish momentum re-testing 1.4250 again. I think the situation is a little bit tricky now since I do not see...