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  • EURUSD June 16 Weekly Technical, Fundamental Forecast: Breakdown Or Bounce?

    From fxempire.com

    FX Traders’ weekly EURUSD fundamental & technical picture, this week’s market drivers that could change it- the bullish, the bearish and likely EURUSD direction. For the first time in 6 weeks, the EURUSD had the bearish uncertainty about ECB stimulus lifted, so it could resume its usual tracking of overall risk appetite as reflected by the major US and European stock indexes. Overall Risk Appetite Per Weekly Charts Of Leading Global Stock Indexes: Taking A Break Overall risk appetite as reflected in US and European indexes took a break last week, but its outlook for the coming weeks remains firmly bullish as ... (full story)

  •  Guest
  • | IP X.XX.130.120
So now the big question is whether the 1.35 support level holds, right?
I notice the EURUSD made most of its weekly decline Monday and Tuesday, yet S&P 500 made most of its drop Thursday. So if the pair isn’t moving with indexes, what caused the early week drop?
stock indexes (including S&P) appeared to be responding to Thursday BoE hint of sooner tightening (only major news that day) though media also noted concern about oil prices due to Iraq turmoil

EURUSD move came early in week, no major news, was either just follow up from prior week or response to ECB officials jawboning EUR lower w/ talk of more to come tho none expected for months

in sum, unclear why
Start long on any drop
not euphoria follower
  •  Guest
  • | IP XXX.XXX.196.149
If both Fed and ECB policy now both steady for coming months, why did we get further decline this week instead of a bounce? And if we didn’t get a bounce this week now that the ECB stimulus plan was already out, why should we expect one now? We already broke major support, so why expect already bending support to hold?
Quoting Guest
So now the big question is whether the 1.35 support level holds, right?
yup, if it's making a real move lower (for those trading on more than very short term time frames) that area is the next big one for reasons discussed in article - beyond the fact that it's a big psychologically important round #
Quoting Guest
If both Fed and ECB policy now both steady for coming months, why did we get further decline this week instead of a bounce? And if we didn’t get a bounce this week now that the ECB stimulus plan was already out, why should we expect one now? We already broke major support, so why expect already bending support to hold?
suspect we at least get a test of 1.35 soon. As for a break below timing harder to call though it's more likely than a recovery given medium term momentum damage. Markets awaiting new fundamentals to shift sentiment, none coming this week, which leaves a lot of potential for just drifting
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  • | IP XXX.XXX.196.78
Agreed, more downside likely, especially, as author points out, now that medium term momentum on weekly charts has now turned bearish with price now so firmly in the double Bollinger band sell zone AND close below those 2 fib lines.
Quoting iqyu5an
Start long on any drop
i'm with you.
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  • | IP XXX.XXX.229.241
In case you haven't noticed, S&P has been in consolidation last week. on which day did it move more more than 1%?. don't trade consolidations, meaning gold and maybe oil were about the only things worth trading.
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  • | IP XX.XXX.182.31
Quoting iqyu5an
Start long on any drop
I hope you're on demo!!!
Quoting Guest
I hope you're on demo!!!
super like.
Quoting simply.monty
super like.
Quoting Guest
I hope you're on demo!!!
It's my own money..is that your problem ? let me see your chart..then I will show you my chart ...
not euphoria follower
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  • Story Stats
  • Posted: Jun 14, 2014 8:37pm
  • Submitted by:
     Cliff Wachtel
    Category: Fundamental Analysis
    Comments: 13  /  Views: 5,349