EURUSD long term analysis

[sdotwewen]

Being contained by 1.5284 previous low support, EURUSD rebounded from 1.5302. The rise is treated as consolidation to down trend. Deeper decline to 1.5000 area is still possible, and down trend will be confirmed by breaking below 1.5284 level.

For long term analysis, EURUSD broke below 1.5342 long term key support and formed a long term cycle top at 1.6019 on weekly chart. Deeper decline to 1.4500 area to reach the next cycle bottom is expected after correction.

http://www.forexcycle.com/content/blogsection/4/65/

[sdotwewen]

EURUSD is forming a cycle bottom at 1.5302 on daily chart. However the rise from 1.5302 is treated as consolidation to down trend. Deeper decline is still possible after consolidation. A break below 1.5302 level will indicate that consolidation has completed, and pullback to 1.5000 area is expected to follow.

For long term analysis, EURUSD broke below 1.5342 long term key support and formed a long term cycle top at 1.6019 on weekly chart. Deeper decline to 1.4500 area to reach the next cycle bottom is expected after correction.

http://www.forexcycle.com/content/blogsection/4/65/

[sdotwewen]

EURUSD formed a cycle bottom at 1.5302 on daily chart. Consolidation could be seen in a range between 1.5302 and 1.5843. A break below 1.5302 level will indicate that consolidation has completed, and pullback to 1.5000 area is expected to follow.

For long term analysis, EURUSD formed a long term cycle top at 1.6019 on weekly chart. The price action from 1.5284 is treated as consolidation to down trend. Deeper decline to 1.4500 area to reach the next cycle bottom is expected after consolidation.

http://www.forexcycle.com/content/blogsection/4/65/

[sdotwewen]

EURUSD formed a cycle bottom at 1.5302 on daily chart. Further rise to test 1.6019 (Apr 22 high) could be seen in a couple of weeks. A break of 1.6019 level will indicate that the sideways consolidation in range between 1.5284 and 1.6019 has completed and long term up trend has resumed. As long as 1.6019 resistance holds, we'd expect down trend to resume, and pullback to retest 1.5284 previous low is possible.

For long term analysis, EURUSD formed a long term cycle top at 1.6019 on weekly chart. The price action from 1.5284 is treated as consolidation to down trend. Deeper decline to 1.4500 area to reach the next cycle bottom is expected after consolidation.

http://www.forexcycle.com/content/blogsection/4/65/

[sdotwewen]

EURUSD is testing the previous high resistance at 1.5843, above this level we may see further rally to 1.5950. Long term resistance is located at 1.6019, rise above this level will indicate that sideways consolidation in a range between 1.5284 and 1.6019 has completed, and long term up trend has resumed. As long as the pair stays below 1.6019 major resistance, we'd expect down trend to resume, and pullback to retest 1.5284 is still possible.

For long term analysis, EURUSD formed a long term cycle top at 1.6019 on weekly chart. The price action from 1.5284 is treated as consolidation to down trend. Deeper decline to 1.4500 area to reach the next cycle bottom is expected after consolidation.

http://www.forexcycle.com/content/blogsection/4/65/

[sdotwewen]

EURUSD broke above 1.5843 resistance and reached 1.5908 only. The pair might be forming a cycle top on daily chart and the fall from 1.5908 could possibly be resumption of down trend. Deeper decline to retest 1.5302 previous low support is now in favor. Initial resistance is at 1.5908, only break of this level will take price back to test 1.6019 long term resistance.

For long term analysis, EURUSD formed a long term cycle top at 1.6019 on weekly chart. The price action from 1.5284 is treated as consolidation to down trend. Deeper decline to 1.4500 area to reach the next cycle bottom is expected after consolidation.

http://www.forexcycle.com/content/blogsection/4/65/