Moving to the sidelinesThe Euro blew through our support watch area. LESSON: This is why we look at lower time frames for entries. If you are blindly trying to enter on support/resistance your account will get ripped. With the Euro zone weakening we will stand on the sidelines until the market firms up or we see a nice pullback.
Be patient...the Euro will give us opportunity.
E71! trade ideas
Euro Currency - pre BCE QEMassive H&S. We are currently below the neckline in a well enstablished downtrend. The recent consolidation offers a good opportunity to enter short Euro (E6U14). Immediate terget on the median line - 1.32040. QE by BCE on the horizon?
Watch ListKeep the Euro on your radar screen. It's consolidating and will most likely move soon. She's come a long way so another move down could result in a snap back rally. If she breaks to the upside first look for a re-test of the break down lows.
Time For selling EURTime For selling EUR with DIV and Harmonic pattern seen its expected to have 1.3000 next 2 months
The underlying structural fundamentals will
continue to provide underlying dollar support
with strong support at lower levels.
The Euro was pushed lower again by reported comments from ECB member Makuch who stated that
several members were open to quantitative easing if necessary and prepared to take action. ECB
President Draghi reiterated that the bank would take all necessary measures to combat deflation if
required. Overall, there was increased speculation that the ECB was prepared to take more aggressive
action and was also looking to talk the Euro down
Euro - 1.33?Euro is trading into a bear channel started on the 27 Dec 2013. Friday 07 Feb 2014 close is at the upper parallel line. We are in overbought territory in the short term. A trade below friday low would project the next wave down to 1.3300 support. Targeting 1.3300 during the week 17 - 21 Feb 2014.
Time to short the Euro?Euro is moving lower. Price bounced back at the 20EMA and is moving towards the bear median line. Target around 1.33370.
Euro FLAGThe Euro currency has formed a bear flag at the median line. Further downward move is on the horizon. Target 1.3200.
Euro FZEuro trend is up and the 6days flag offers a good opportunity to enter long. Target on the median line in two weeks time.
June EuroCurrencyMarket in downtrend - interesting bear flag pattern formed below the 20EMA and in proximity of the down-sloping parallel line. A trade below 1.28170 would confirm the trend continuation. Preliminary target set at 1.25300.
