EURUSD long term analysis

[sdotwewen]

EURUSD formed a cycle top at 1.6019 and dropped sharply to as low as 1.5554. Deeper decline is possible to retest 1.5342 long term key support after consolidation, a break of this level will signal the reversal to the long term up trend. Key resistance is now located at 1.6019, only break of this level will turn price back to up trend.

For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.4500 area is expected to follow.

http://www.forexcycle.com/content/view/295/65/

[sdotwewen]

EURUSD broke below the ascending triangle pattern and reached as low as 1.5539. Further fall to 1.5400 area to reach the next cycle bottom on daily chart is still possible in the next several days, and a break below 1.5342 level will signal the reversal to the long term up trend. Key resistance is now located at 1.6019, only break of this level will turn price back to up trend.

For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.4500 area is expected to follow.

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

[FerruFx]

Like your other thread, I must applaud for your very usefull analysis. Thanks.

FerruFx

[sdotwewen]

EURUSD is testing 1.5342 key support, consolidation will more likely be seen before breaking below this level, and rebound to 1.5650 area is expected. Key resistance is located at 1.6019, only break of this level will signal resumption of the long term up trend.

For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.4500 area is expected to follow.

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

[sdotwewen]

Being contained by the key support at 1.5342, EURUSD rebounded from 1.5360. Sideways consolidation in a range between 1.5342 and 1.5700 is expected in the next few days. Pullback to retest 1.5342 is still possible after consolidation and a break of this level will signal reversal to the up trend. Initial resistance is at 1.5700, if this resistance gives way, further rally to test 1.6019 could be seen.

For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.4500 area is expected to follow.

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

[sdotwewen]

EURUSD is forming a cycle bottom at 1.5284 on daily chart. Bounce to retest 1.5700 resistance is expected before breaking below 1.5284 level. The rise from 1.5284 will be treated as correction to the down trend. Key resistance is at 1.6019, only break of this level will signal resumption of the long term up trend.

For long term analysis, EURUSD broke below 1.5342 long term key support and is now in down trend. Deeper decline to 1.5000 area to reach the next cycle bottom on weekly chart is expected after consolidation.

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

[sdotwewen]

EURUSD is bottoming at 1.5284 on daily chart. Key resistance is now located at 1.5594, a break of this level will confirm the cycle bottom. Sideways consolidation in a range between 1.5284 and 1.6019 could be expected in the next few weeks. Initial support is at 1.5284, only fall below this level will signal resumption of down trend.

For long term analysis, EURUSD broke below 1.5342 long term key support and is now in down trend. Deeper decline to 1.5000 area to reach the next cycle bottom on weekly chart is expected after consolidation.

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

[sdotwewen]

EURUSD broke above 1,5594 key resistance and formed a cycle bottom at 1.5284 on daily chart. Further rise to 1.5725 area is possible, and sideways consolidation in a range between 1.5284 and 1.6019 could be expected in the next few weeks. As long as 1.6019 resistance holds, we'd expect down trend to resume and pullback to 1.5000 could be seen by the end of the down trend.

For long term analysis, EURUSD broke below 1.5342 long term key support and is now in down trend. Deeper decline to 1.5000 area to reach the next cycle bottom on weekly chart is expected after consolidation.

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