EURUSD long term analysis

[sdotwewen]

EURUSD broke above 1.6019 (Apr 22 high) resistance and reached 1.6038 high. Further rise towards 1.7000 is still possible after consolidation. Initial support is at the up trend line from 1.5302 to 1.5611, as long as the pair stays above the trend line support, up trend will continue.

For long term analysis, EURUSD broke above 1.6019 (Apr 22 high) resistance, suggesting that the sideways consolidation in a range between 1.5302 and 1.6019 has completed. Further rise towards 1.7000 is expected to follow.

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

[sdotwewen]

EURUSD is testing the support of the up trend line from 1.5302 to 1.5611, break below the trend line support will take price back to1.5600 level. As long as the trend line support holds, we'd expect up trend to resume, and rise above 1.6038 will signal further rally to 1.6200 level.

For long term analysis, EURUSD broke above 1.6019 (Apr 22 high) resistance, suggesting that the sideways consolidation in a range between 1.5302 and 1.6019 has completed. Further rise towards 1.7000 is expected to follow.

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

[sdotwewen]

EURUSD broke below the up trend line from 1.5302 to 1.5611. Deeper decline to test 1.5611 support is still possible in next few days. Initial resistance is at 1.6038, only rise above this level will signal further rally to 1.6150 level.

For long term analysis, EURUSD broke above 1.6019 (Apr 22 high) resistance, suggesting that the sideways consolidation in a range between 1.5302 and 1.6019 has completed. Further rise towards 1.7000 is expected to follow.

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

[Summerset]

Originally Posted by sdotwewen

For long term analysis, EURUSD broke above 1.6019 (Apr 22 high) resistance, suggesting that the sideways consolidation in a range between 1.5302 and 1.6019 has completed. Further rise towards 1.7000 is expected to follow.

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

Eurodollar broke 6019 by making 6038 on intraday action, there was no daily close at that level. - So would that count as a breakout ?

I am just curious as to what makes you think that the 5302 - 6019 range consolidation has completed? I agree that we will ultimately see 1.68 on breakout, but why not more consolidation to buy at Much lower levels ?

[sdotwewen]

EURUSD is testing 1.5611 support. As long as this level holds, we'd expect uptrend to resume and rebound towards 1.6038 is possible. However, a break below 1.5611 level will signal further decline to to 1.5400 area.

For long term analysis, EURUSD broke above 1.6019 (Apr 22 high) resistance, suggesting that the sideways consolidation in a range between 1.5302 and 1.6019 has completed. Further rise towards 1.7000 is expected to follow.

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

[sdotwewen]

Originally Posted by Summerset

Eurodollar broke 6019 by making 6038 on intraday action, there was no daily close at that level. - So would that count as a breakout ?

I am just curious as to what makes you think that the 5302 - 6019 range consolidation has completed? I agree that we will ultimately see 1.68 on breakout, but why not more consolidation to buy at Much lower levels ?

I think you are right if 1.5611 support gives way.

[sdotwewen]

EURUSD breaks below 1.5611 support and down trend resumes. Deeper decline towards 1.5302 previous low is possible in next few days. Initial resistance is at 1.5770, rise above this level will signal consolidation to down trend. As long as 1.5770 resistance holds, we'd expect down trend to continue.

For long term analysis, EURUSD broke below 1.5611 support and is back to sideways consolidation. Deeper decline towards 1.5000 level is now in favor.

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

[sdotwewen]

EURUSD is in down trend and the fall from 1.6038 extends further to 1.5515 level. Deeper decline is still possible to test 1.5302 previous low support. Initial resistance is at 1.5768, as long as this resistance holds, we'd expect down trend to continue.

For long term analysis, EURUSD broke below 1.5611 support and is back to sideways consolidation. Deeper decline towards 1.5000 level is now in favor.

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