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 – 16 January 2014January 16, 2014 by Craig Erlam in Technical analysisEURUSDThe euro is looking bearish against the dollar once again, following the brief retracement over the last week. The pair ran into strong resistance around 1.3679, from both the 20-day SMA (middle bollinger band) and the 38.2 fib level. After finding resistance here, the pair formed […]
Morning technical analysis – 8 January 2014January 8, 2014 by Craig Erlam in Technical analysisEURUSDThe euro is continuing to look bearish against the dollar this morning, having failed to close back above the neckline of the double top for a second consecutive day. The could now be viewed as confirmation of last week’s break, prompting a move back towards 1.3450, […]
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 […]
Daily technical analysis – 6 January 2014January 6, 2014 by Craig Erlam in Technical analysisEURUSDThe euro is looking quite bearish against the dollar this week, after last weeks candle closed below the opening level of the week before, resulting in a bearish engulfing pattern on the weekly chart. We’ve actually had a few bearish candles on the weekly chart over […]
Morning technical analysis – 19 December 2013December 19, 2013 by Craig Erlam in Technical analysisEURUSDThe FOMC announcement did not disappoint last night, creating huge surges in volatility, followed broadly by dollar gains. The euro was one of the biggest losers against the dollar last night, closing more than 80 pips lower on the day following the initial period of excessive […]
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 – 12 December 2013December 12, 2013 by Craig Erlam in Technical analysisEURUSDThe euro is trading lower against the dollar on Thursday, following seven consecutive wining sessions. The rally over the last seven days has been particularly aggressive, so this could just be a temporary consolidation in the pair rather than a bigger retracement. This is what the […]
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 […]
The AUD/USD pair has broken a major reversal pattern- Head & Shoulder on a daily time frame. The price is trading below the 50 day (shown in green) and 100 day (shown in yellow) moving average which means that the bears are in strong control of the price. The pair has pierced the Bollinger band at this level which means that the […]
