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$EURUSD

As we noted yesterday "The initial target for the next move down is the -0.270 area at 1.3600 area".  We did that and bounced however we are still in the descending wedge and now looking to go back to that target 1.3600 again.  A break of the 1.3600 however, targets the 1.3491 (.618 fibo extension).  Upside risk is a breakout of the wedge to the .382 fib retracement @ 1.3793.  We like the downside opportunity. 

 

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EURUSD Limited Out

If you were on the RF1010 call this am you remember that we called this trade for 55 pips!  We just limited out.  YE HA!

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$EURUSD

EURUSD put a false breakout on the charts and is still looking to put in a double bottom at 1.3570.  If we get a bounce there look for a move back to the 1.3756 support and a break of the wedge. The initial target for the next move down is the -0.270 area at 1.3600 area.  A break of the 1.3600 however, targets the 1.3482 (.618 fibo extension).

 

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$EURUSD

EURUSD appears to be stuck in a range.  Although it has broken the bottom of the uptrend it is sitting on strong support just below @ 1.3734.  A break south will immediately hit the S6 support @1.3680.The Market should try and take this S6 out at which time buyers should be found at this level for a bounce to the .382 @ 1.3912. any continuation north should follow the fib retracements of the last leg up.  A break of the S6 targets the -0.270 Fib extension at the 1.3500 area.

 

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$EURUSD

After a nice sell off to the .786 we have had a bounce to the R3.  Now we should watch for the pullback to the trend line and then another push upward and watch for 1.4100.  To the downside we should be watching for the break of the trend line and then trying for 1.3800.

 

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$GBPUSD

GBPUSD appears to be rebuilding a bull flag after reacting at the 1.6300 and the R6 resistance. The initial target for the next move down is the 1.6053 area which is the 0.382 fib retracement. When can see consolidation occurred here the last time so expet stalling here as opposed to a strong bounce.  A break of the .382 however, targets the 1.5973 (.500 fibo).  Next upper target is the resistance at 1.6449 which whould be in the sigts in the next day or so.

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$EURUSD

Ready to buy the dip?  Retracement back to the trend line and now ready to try 1.4300 again.  Looks like a ripe opportunity and we should stay bullish on this for now. Break south of the trend line would look to run to the 1.3900 area at least.

 

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$EURUSD – 1.4500?

Is 1.4500 coming soon?  Sure looks like it!  We were saying to watch for that run at the beginning of the week.  What a run up!  Watch for the dips and continue to buy on those.  Keep your eyes on the lower trend wall and watch for breaks south.  Top should be looking for 1.4300 at the moment and breaks south should be reaching for 1.4150 and then 1.4050.

 

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