EUR/USD Technical Update (7/18) | Forex Factory

  • EUR/USD Technical Update (7/18)

    From fxtimes.com

    Semiannual Monetary Policy Report: The event risk was Bernanke’s testimony in front of congress, which did not provide anything new since the FOMC minutes left doubts about QE-tapering later this year. 1.30-1.32 consolidation: The EUR/USD retreated before testing the 1.32 consolidation high, returning to around the 1.31 area. 1.31 is around the central pivot area, where price can be considered “neutral” within the 1.30-1.32 range. Bullish bias: The central pivot area goes down to the 1.3085 low. A break below 1.3085-1.31 should take away the bullish bias, and expose the 1.30 range low. Alternately, if price can ... (full story)

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venzen
Jul 18, 2013 8:49am
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Helpful pivot analysis. Considering the PA from 19 June - 9 July from an EW perspective there is no clue as to the context of the recent upsurge. Both RSI and MACD give no indication that the Jun-Jul downtrend was a 5 wave actionary drop, so all that remains are the visual clues that the current action between 1.30 and 1.32 is corrective with more upside likely.
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ali awan
Jul 18, 2013 8:22am
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whats is technical is technical won today or data news won today good competition we watch it
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