10Dec

Week of December 10, 2008

EURUSD remains in a medium term consolidation phase with trendline resistance from the October 30, 2008 high of 1.3298 coming in at 1.2955 today, while to the downside trendline support from the October 28, 2008 low of 1.2328 comes in today at 1.2500.  A daily close above or below these trendlines will see further extension […]
04Dec

Week of December 4, 2008

EURUSD continues the medium term consolidation phase since reaching the 1.2328 low on October 28, 2008, as risk remains for further downside targeting 1.2132 followed by the November 2005 low at 1.1642. Daily trendline support comes in today at 1.2451 as a daily open and close close below 1.2400 will firm up the move towards […]
01Dec

Week of December 1, 2008

EURUSD remains in a consolidation phase since reaching the 1.2328 low on  October 28, 2008 with daily trendline support coming in at 1.2445 as of this writing,  No change in the medium term outlook as ONLY a daily open and close above 1.3298 will complete the fall from the September 22, 2008 high at 1.4866 while 1.2328 holds, […]
26Nov

Week of November 26, 2008

EURUSD reached 1.3080 yesterday, just 9 pips shy of our target mentioned in Tuesday’s update, as the EURUSD has now closed higher for 3 consecutive days, which last occurred on September 15, 2008.  Look for prices to continue to move higher as a 2 hour open and close above 1.3101 will confirm the rise to 1.3298 […]
25Nov

Week of November 25, 2008

EURUSD broke above the descending trendline from the October 30, 2008 high at 1.3298 as prices have now moved within the 1.2697-1.2926 consolidtion zone mentioned in prior updates. Nearterm risk remains for further extension to the upside while 1.2824 supports as a 1 hour open and close above 1.2926 confirms further upside with 1.3089 as the next objective followed by 1.3298.  […]
20Nov

Week of November 20, 2008

EURUSD continues to find offers on rallies as trendline resistance from the October 30, 2008 high at 1.3298 comes in today at 1.2695 with a 2 hour close above this level seeing further upside, while at this juncture risk remains firmly to the downside with much lower prices in the days and weeks ahead.   However, prices need to […]
19Nov

Week of November 19, 2008

EURUSD remains in a broad consolidation pattern with the descending trendline from the October 30, 2008 high at 1.3298 coming in at 1.2700 today and continuing to limit any upside attempts. Risk remains to the downside while prices hold below this trendline, as a daily close above will see further extension to the upside. As to the downside, look […]
17Nov

Week of November 17, 2008

EURUSD closed last week at 1.2603, the lowest weekly close of 2008 and the lowest weekly close since August 2006.  Although the trend clearly remains to the downside, there is developing evidence on both the daily and weekly charts suggesting a correction may be near.  As of this writing, daily prices have failed to break the October 28, 2008 low of 1.2328, as on […]
13Nov

Week of November 13, 2008

EURUSD’s broke out of the short term consolidation phase earlier this week as prices will now attempt to move lower towards 1.2132 in the days ahead while 1.2962 should cap.  As to the upside, a sustained break of 1.2962 will see prices continue to move higher towards the October 30, 2008 high at 1.3298, with a daily open and […]
10Nov

Week of November 10, 2008

EURUSD remains in a medium term consolidation pattern as evidenced by the recent lower highs and higher lows, while currently trading within a symetrical triangle or pennant formation (more of the difference below between these two in the below text) as defined by the upper descending trendline and the lower ascending trendline.  The pattern must contain at least two lower […]

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