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Good day forex traders.

In the previous EUR/USD forecast we noted that the 1.3 line remains pivotal to the currency pair’s price action. The RSI on the daily suggested that the bearish pressure was weakening.

[I]EUR/USD Chart[/I]

[B]Technical Analysis[/B]

Looking at the daily EUR/USD chart above, we note that a forex gap happened. Again as I said over the years, forex gaps can happen anytime and hence ensure that proper money management is always there.

Despite a bearish dip, the EUR/USD had climbed back towards the 1.3 line. I love it when my chart works! 1.3 remains pivotal to the price action indeed. A look at the RSI suggests again that bearish momentum may be fading.

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In the previous AUD/USD forecast we noted on the positivity of sentiments as the US Non-Farm payroll impresses. Should nothing fundamental changes, we might see 1.0440 as a bullish target for the currency pair.

[I]AUD/USD Chart[/I]

[B]Technical Analysis[/B]

Looking at the AUD/USD daily chart above we do noted that the 1.0440 target was hit. I love it when my charts work !
The currency pair is now at a region where consolidation may happen and hence we should monitor this with the upper limit being right about 1.0480 and respectively lower limit being about 1.0380. Any breech of either the mentioned support or resistance may suggest further momentum.

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Good day forex traders.

In the previous EUR/USD forecast we noted on a support at 1.2960. I cautioned against any possible bullish correction targeting the 1.3100 / 1.3150 resistance. The better than expected US Non-Farm Payroll probably injected positive sentiments into the global markets as the US employment market picks up.

[I]EUR/USD Chart[/I]

[B]Technical Analysis[/B]

Looking at the EUR/USD chart above we note that the 1.2960 support remained valid and as mentioned previously, the bullish correction did happen and the currency pair tested the resistance of 1.3100.

We continue to note that the region of 1.3 is pivotal to the currency price action. Upper limits remains to be 1.3100 / 1.3150 while the lower immediate support is 1.2960. The RSI suggests that the bearish momentum has faded a fair bit.

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Good day forex traders.

In the previous AUD/USD forecast we noted that the currency pair was currently in a consolidation region and hence prudence was probably necessarily as both directions of trade would be possible. While China’s slowing import was negative sentiment for the Aussie dollar, the improving US employment market probably brought global positivity.

[I]AUD/USD Chart[/I]

[B]Technical Analysis[/B]

Looking at the AUD/USD daily chart above, the support region held and the currency pair went below the consolidation region. It was pretty much a bullish dominated week. If there is no adverse fundamental changes to cause a shift in sentiments, we may see 1.0440 as the immediate bullish target.

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In the previous EUR/USD forecast we note the strong bearish momentum hitting the 1.3 support. Being a usually strong support and resistance region, caution was advised as it could go either ways from here. This made the monitoring of on going developments necessary.

[I]EUR/USD Chart[/I]

[B]Technical Analysis[/B]

Looking at the EUR/USD daily chart above we note that the currency pair is now currently at the 1.3 support region again! The trading week gave us volatility as the currency pair alternated between bullish and bearish momentum. We do note an immediate support of sorts at 1.2960 too. While the greater trend is obviously bearish, I would urge all to be cautious in the event of any bullish correction back to 1.3100 / 1.3150.

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In the previous AUD/USD forecast we noted that the bearish momentum breached the 1.0230 support and next would be 1.0150. The fundamentals continued to result in a weak economic environment for the Aussie dollar. Mainly China’s slow down.

[I]AUD/USD chart[/I]

[B]Technical Analysis[/B]

Looking at the AUD/USD daily chart above we note that the bearish momentum did continue and the currency pair tested the 1.0150 support. It is good when our support level works. The AUD/USD had since eased and is now around 1.0230 region. This is a popular consolidation region too and hence we should probably monitor the price action early week to determine the sentiments. It is good to be prudent when trading forex.

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Good day forex readers and forex traders.

In the previous EUR/USD forecast we do note of the crucial region the currency pair is in. 1.3 is a strong psychological level and many investors are probably watching this support and resistance level.

[I]EUR/USD chart[/I]

I want to focus on the lower time frames and hence the hourly EUR/USD chart. We do note that the currency pair is now easing off from the 1.3 support. This is not surprising and I hope no one was caught off guard. There is still possibility of continued bearish momentum and we probably need to monitor the ongoing economic data releases for a clue to the underlying sentiments.

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Good day forex traders and readers.

In the previous EUR/USD forecast we noted that the target of 1.3100 was hit. There was bullish correction observed and the ECB president was reported to be adopting a hawkish stance with regards to the euro currency’s support. This probably added to the bullish sentiment.

[I]EUR/USD chart[/I]

[B]Technical Analysis[/B]

Looking at the EUR/USD daily chart above we note that the bearish momentum is back with a vengeance. Slicing through supports like a knife through butter, 1.3 was tested and 1.2s was momentarily held. In the meanwhile I want to congratulate our forumers who called for a 1.3 target and who have by now took profit well done ! This bearish momentum is strong and if 1.3 fails to defend itself, next may be 1.2890 followed by 1.2800. Any bullish attempt to regain lost ground will need to overcome 1.3100 and then 1.3150.

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Good day forex traders.

In the previous AUD/USD forecast we noted that the support of 1.0230 held. It remained as an immediate support followed by 1.0150. There were speculations that the Australian interest rate would remain untouched and this brought about positive sentiments.

[I]AUD/USD chart[/I]

[B]Technical Analysis[/B]

Looking at the AUD/USD daily chart above we do note that the bearish momentum has resumed. The support of 1.0230 had failed and next in line will be the strong support region of 1.0150. Do be cautious as the bearish momentum is rather strong. Always have your proper money management on at all times. If 1.0150 fails, we may see 1.0080 next.

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Good day forex traders and koalas.

In the previous EUR/USD forecast we noted a weak head and shoulders pattern that may result in a bearish target of 1.3100. Fundamentally we may be facing some adverse sentiments as fresh strikes erupt in Greece against the austerity measures. This serves to remind investors that the European region is still not out of the woods yet.

[I]EUR/USD Chart[/I]

[B]Technical Analysis[/B]

Looking at the EUR/USD daily chart above we note that the currency pair did continue to be bearish. Taking out the resistance of 1.32 , it came close to our weak head and shoulders pattern bearish target of 1.3100. It has since retreated and the doji pattern suggests intense competition between the bears who want to take the EUR/USD lower and the bulls who see this region as an opportunity to buy in. I will not discount the possibility of an attempt to test 1.31 but caution is advised should the bulls manage to overcome.

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In the previous AUD/USD forecast we noted a bearish momentum and the support region of 1.0230. The Australian economy seems to be entering a flat of sorts and it may be a while before we see a continued pickup.

[I]AUD/USD Chart[/I]

[B]Technical Analysis[/B]

Looking at the AUD/USD daily chart above we noted that the 1.0230 held as a support for now. I love it when my support line works! :) Considering how the currency pair starts the new week, any continued bullish action will need to face the resistance region of 1.0360. 1.0230 remains the lower support followed by 1.0150.

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Good day forex traders and koalas !

In the previous EUR/USD forecast I mentioned of a fundamental view by some experts that the Euro currency strength might not be due to economic factors but rather perhaps political. If indeed so, should adverse economic data surface, a substantial drop in value might be seen.

[I]EUR/USD Chart[/I]

Looking at the EUR/USD chart above, we note a tight trading range for the week. The price action remains slightly above the consolidation region of 1.3320 for now. We can see a weak head and shoulders chart pattern and if indeed so, we may see 1.3100.

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In the previous EUR/USD forecast we noted that the EUR/USD was bearish and the immediate support might be the previous consolidation region of 1.3320. There were talks recently of the stronger value of the EUR/USD hurting exports. Such dovish comments might affect sentiments.

[I]EUR/USD Chart[/I]

[B]Technical Analysis[/B]

Looking at the EUR/USD chart above we noted that the currency pair attempted to recover right up to the mid week. After which the EUR/USD was overwhelmed by bearish pressure and tested the 1.3320 mentioned last week. I love it when my chart works :) Now if the bearish pressure continues, a failure of 1.3320 may bring us to 1.3250. A bullish correction will likely see some resistance at 1.3400 first. We are also on the support region of a longer term bullish trend line and hence it will be crucial to monitor the price action here.

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In the previous AUD/USD forecast we noted that the bearish momentum has been around for sometime now. With the failure of 1.03660 , the next bearish target and immediate support will be 1.0230. The Reserve Bank of Australia RBA was reported to have lowered the growth forecast of the Australian economy. We might see the dip play out before recovery.

[I]AUD/USD chart[/I]

[B]Technical Analysis[/B]

Looking at the AUD/USD daily chart above we note that the 1.0230 target was hit! I love it when my targets work :) ok I am going to keep my shameless self praise short. Now what do we have here? We do see a retracement in action and without doubt if bearish momentum continue, the 1.0230 region will probably be crucial. A point to note is the extreme bearish action on the last day of the week. Should 1.0230 fail, the next bearish target will probably be 1.0150.

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Good day forex traders and koalas.

In the previous EUR/USD forecast we noted a dive towards the previous consolidation region of 1.3320. This could serve as a support. Policy makers were reported to be concerned about a stronger Euro currency and hence bearish pressure emerged. We need to monitor the start of the new trading week to determine the sentiment.

[I]EUR/USD chart[/I]

The 1.3320 region did serve as a support of sorts and since then the EUR/USD has resumed a bullish climb. This is pretty consistent with the tone set from the first day of the new trading week. Therefore if you heeded my advise to monitor the start of the trading week, you are probably green now! I love it when my support and resistance analysis works ! If the bullish momentum continues we could be looking at a medium term target of 1.3680 +/- . It is important to consider the immediate resistances in between which are 1.35 and 1.36.

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