06Mar

Week of March 6, 2008

EURUSD fall from the February 23, 2009 high of 1.2990 remains active as only a daily close above 1.2659 will complete this fall while 1.2455 holds, as prices will then move within a 1.2659-1.2786 consolidation zone before another attempt to the downside. Once prices have closed on a daily basis within the above mentioned zone, a sustained break […]
03Mar

Week of March 3, 2009

EURUSD short term wave from the February 25, 2009 high at 1.2898 remains active as only a 1 hour open and close above 1.2675 will complete this fall while yesterday’s 1.2537 low holds, as prices will then move within a 1.2675-1.2760 consolidation zone before another attempt to the downside. Once prices have entered the above mentioned zone, a sustained […]
02Mar

Week of March 2, 2009

EURUSD closed February at 1.2665, the lowest monthly close since April 2006, as the long term outlook remains firmly to the downside while prices remain below 1.3355.  A weekly open and close below 1.2583 confirms further downside extenison with the October 28, 2008 low of 1.2328 as the next objective followed by the November 2005 low of 1.1642. […]
26Feb

Week of February 26, 2009

EURUSD continues to consolidate within the recent 1.2512-1.2990 rise with trendline resistance off the 1.2990 high coming in today at 1.2851 while trendline support off the 1.2512 low comes in at 1.2689.  As to the fall from the December 18, 2008 high of 1.4718, this fall remains active as only a daily open and close above 1.3355 will […]
23Feb

Week of February 23, 2009

EURUSD rallied late US session Friday reaching descending trendline resistance from the January 28, 2009 high which comes in at 1.2853 as of this writing.  A daily open and close above 1.2824 will see prices continue to move intially towards 1.3016.  As to the medium term fall from the December 18, 2008 high of 1.4718, ONLY a weekly close above 1.3355 will complete the medium […]
19Feb

Week of February 19, 2009

EURUSD broke trendline support on Tuesday as prices continued to move lower reaching 1.2512 yesterday.  This rising trendline from the October 28, 2008 low of 1.2338, now resistance, comes in today around 1.2750 today. Look for a retest of this level as a daily close above suggest prices will continue to move higher with 1.2981 as the next objective.  As to the corrective […]
17Feb

Week of February 17, 2009

EURUSD broke below the lower daily trendline support from the October 28, 2008 low of 1.2328 as a daily open and close below 1.2777 will see prices continue to move lower towards 1.2328. As mentioned in the August 21, 2008 outlook,(please read), the broad outlook continues to favor a retest of the November 2005 low at 1.1642 […]
12Feb

Week of February 12, 2009

EURUSD continues to see lower daily highs and higher daily lows with a breakout imminent within the next few days.  Rising trendline support comes in at 1.2790 today while to the upside, descending trendline resistence comes in at 1.2963. The convergence of the two above mentioned trendlines occurrs in 7 days at which time a […]
10Feb

Week of February 10, 2009

EURUSD remains is a medium term consolidation phase of the 1.4718-1.2705 fall witnessed from December 18, 2008 -February 2, 2009, with a daily open and close above 1.3223 confirming further upside extension with 1.3474 as the next objective. As to the downside, ONLY a daily open AND close below 1.2839 will confirm further downside risk […]
22Jan

Week of January 22, 2009

EURUSD fall from the December 18, 2008 high of 1.4718 remains active as ONLY a daily open and close above 1.3548 will complete this fall at 1.2824, with prices then continuing to move higher within a 1.3598-1.3994 consolidation zone before another attempt to the downside.  However, a daily close above 1.3085 today will see prices […]

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