Monday, June 9, 2014

A wider look at the EUR/USD.

When a currency pair or any other trading instrument stays in a prolonged consolidation, it is better to move to higher timeframes in order to see the bigger picture. Since the EUR/USD has stayed in a consolidation for so long, we have decided to take a look at the weekly timeframe. On it, we can see that the pair has found a very good support at the zone between the 1.3500 and the 1.3600. We may still see a bounce from this area to the upside, but if the price keeps falling, then the next support is going to be the 200 period Exponential moving average around the 1.3415 level.


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6 comments:

  1. UnknownJun 9, 2014, 5:00:00 PM

    looks very likely to reach the lower level

    ReplyDelete
  2. UnknownJun 9, 2014, 5:34:00 PM

    Here is hoping that it tests the lower target

    ReplyDelete
  3. bewayopaJun 9, 2014, 5:41:00 PM

    I agree with your point of view. The bigger the picture the bigger is the information

    ReplyDelete
  4. AnonymousJun 10, 2014, 5:25:00 AM

    The EURUSD is below the 1.36 handle again, but no clear direction. Choppy action all around!

    ReplyDelete
  5. UnknownJun 10, 2014, 9:21:00 AM

    It seems the lower target is ready to tested.

    ReplyDelete
  6. UnknownJun 10, 2014, 9:33:00 AM

    I hope the the price will bounce back up and the support will hold the price from falling more

    ReplyDelete

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