EURUSD long term analysis

[sdotwewen]

EURUSD failed to test the previous high resistance at 1.4966 and pulled back from 1.4951. Further decline towards 1.4400 area to reach the next cycle bottom on daily chart is still possible next week. Key resistance is at 1.4966, a break above this level will signal the resumption of the up trend.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is in favor.

http://www.forexcycle.com/index.php/...rket-Analysis/

[sdotwewen]

EURUSD dropped sharply from 1.4951, and reached as low as 1.4621. Further pullback to 1.4400 area to reach the next cycle bottom on daily chart could still be seen in a couple of days, and the next cycle bottom is nearing. Near term support is at the up trend line from 1.4309 to 1.4365, now at 1.4392 level. Key resistance is at 1.4966, a break above this level will signal the resumption of the up trend.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

http://www.forexcycle.com/index.php/...rket-Analysis/

[sdotwewen]

EURUSD is forming a sideways consolidation in a range between 1.4309 and 1.4966. Further pullback to the up trend line from 1.4309 to 1.4365 to reach the next cycle bottom on daily chart could still be seen next week, and the next cycle bottom is nearing. Up term will resume after consolidation, and rise above 1.4966 previous high is still possible after consolidation.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

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

[sdotwewen]

EURUSD is forming a cycle bottom on daily chart, and the fall from 1.4951 has completed at 1.4438 level. Further rise to test the previous high resistance at 1.4966 is expected, and a break of 1.4670 level will confirm the cycle bottom. Near term support is at the up trend line from 1.4309 to 1.4365. Long term key resistance is at 1.4966, a break of this level will signal the resumption of the long term up trend.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

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

[sdotwewen]

EURUSD formed a cycle bottom on daily chart, and the consolidation from 1.4966 has completed at 1.4438 level. Further rally to test 1.4966 long term key resistance is still possible, a break of this level will signal the resumption of the long term up trend. Near term support is at the up trend line from 1.4309 to 1.4365, as long as the trend line support holds, up trend will continue.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

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

[sdotwewen]

EURUSD formed a cycle bottom at 1.4438 and is now in up trend. Further rally to test previous high resistance at 1.4966 is still possible. Near term support is at 1.4600 followed by the up trend line from 1.4309 to 1.4365. Long term key resistance is at 1.4966, consolidation could be seen before breaking above this level.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

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

[sdotwewen]

EURUSD formed a cycle bottom on daily chart, and the consolidation from 1.4966 has completed at 1.4438 level. Further rise to test 1.4966 previous high resistance is expected, and breaking above this level to reach the next cycle top will more likely be seen. Near term support is at 1.4600 followed by the up trend line from 1.4309 to 1.4365, and long term resistance is at 1.4966 level.

For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.

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

[sdotwewen]

As expected, EURUSD breaks above 1.4966 (23 Nov 2007 high) and reaches as high as 1.5047. Further rise to 1.5300 area to reach the next cycle top on daily chart is still possible. Near term support is at 1.4750, as long as this support holds, we'd expect up trend to continue.

For long term analysis, EURUSD is moving to the next cycle top on weekly chart, and the next cycle top is nearing. Long term key support is now at 1.4438, a break below this level will indicate that the long term up trend from 1.1639 (Nov 2005 low) has completed, and pull back to 1.3000 area is expected to follow.

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