Morning technical analysis – 7 February 2014February 7, 2014 by Craig Erlam in Technical analysisEURUSDThe euro is edging lower again this morning, after spiking higher yesterday following Mario Draghi’s surprisingly hawkish press conference. The pair failed to close above 1.3608, the 50% retracement of the move from 24 January highs to 3 February lows, as well as the 20 and […]
Morning technical analysis – 29 January 2014January 29, 2014 by Craig Erlam in Technical analysisEURUSDYesterday’s rebound off the neckline of the double bottom has made the eurodollar pair look a lot more bullish in the short term, despite the initial failure to close above the 50 fib level, around 1.37. Based on the size of the double bottom, we should […]
Morning technical analysis – 17 January 2014January 17, 2014 by Craig Erlam in Technical analysisEURUSDThe euro is still looking bearish against the dollar despite rallying for much of yesterday’s session. The pair failed to break above this week’s highs during the rally and closed below the marabuzo line of the previous candle. This suggests yesterday’s rally was just a brief […]
Morning technical analysis – 7 January 2014January 7, 2014 by Craig Erlam in Technical analysisEURUSDThe euro is trading lower against the dollar this morning after failing to close back above the neckline of the double top yesterday. This failure to close back above could be seen as confirmation of the initial break below the neckline, prompting a move back towards […]
Morning technical analysis – 3 January 2014January 3, 2014 by Craig Erlam in Technical analysisEURUSDThe euro is looking pretty weak against the dollar at the moment, having broken through two ascending trend lines in the last few weeks, with the first being confirmed at the end of December when the pair failed to break back above the trend line. For […]
Daily Technical Analysis – 13 December 2013December 13, 2013 by Craig Erlam in Technical analysisEURUSDThe consolidation in this pair over the last couple of days, which previously looked like a triangle – a continuation pattern – has now become a descending triangle. This is typically a bearish pattern, regardless of whether it appears in an uptrend or a downtrend, so […]
Daily Technical Analysis – 10 December 2013December 10, 2013 by Craig Erlam in Technical analysisEURUSDThe euro is continuing to push higher against the dollar on Tuesday after recording a fifth consecutive day of gains at the start of the week. The pair is looking quite overbought now, as seen on the stochastic where it looks in the process of crossing […]
Daily Technical Analysis – 25 November 2013November 25, 2013 by Craig Erlam in Technical analysisEURUSDThe euro is looking bearish again this week, having failed to break back above the ascending wedge. Even the weekly chart is looking a little bearish, with last week’s candle being a hanging man, signalling a trend reversal. It is worth noting that this is not […]
Daily Technical Analysis – 21 November 2013November 21, 2013 by Craig Erlam in Technical analysisEURUSDWe’re seeing a bit of a recovery in the euro today, following an aggressive sell-off yesterday. This came as a result of a rumour that circulated around negative deposit rates being used as stimulus in the future over other rate cuts. Talk of further stimulus so […]
Morning technical analysis – 19 November 2013November 19, 2013 by Craig Erlam in Technical analysisEURUSDThe euro is continuing to edge higher on Tuesday, although we’re still seeing no sign that it is going to break back above the ascending trend line that it broke below earlier this month. As a result, I’m still bearish in the long run, but that […]
