EURUSD long term analysis

[sdotwewen]

EURUSD is bottoming at 1.2865 on daily chart, key resistance is now at 1.3014, a break above this level may confirm the cycle bottom. Further rally to reach the next cycle top on daily chart is still possible next week. Near term support is at 1.2865, only break below this level may signal the resumption of the down trend, and further fall towards the up trend line from 1.1825 to 1.2483 (now at 1.2758) can be expected in the next several days.

http://www.forexcycle.com/eurusd.html

[sdotwewen]

Key resistance at 1.3014 is broken above, EURUSD bottomed at 1.2865 on daily chart. Further rise towards the top of the price channel to reach the next cycle top is possible in the next several days. Key support is at 1.2865 only break below this level may signal the resumption of the down trend. For long term analysis, EURUSD is in up trend, the fall from 1.9364 is treated as in correction to the up trend, and further rise above 1.9364 to reach the next cycle top on weekly chart can be expected next month.

[Trader02]

Originally Posted by sdotwewen

Key resistance at 1.3014 is broken above, EURUSD bottomed at 1.2865 on daily chart. Further rise towards the top of the price channel to reach the next cycle top is possible in the next several days. Key support is at 1.2865 only break below this level may signal the resumption of the down trend. For long term analysis, EURUSD is in up trend, the fall from 1.9364 is treated as in correction to the up trend, and further rise above 1.9364 to reach the next cycle top on weekly chart can be expected next month.

Your Excellency, EURUSD was seen booking a ticket to Argentina. Departure is expected soon, within hours or a few days. If however she finds herself at Tijuana station at 1.2915 today or tomorrow, then the southbound journey is already underway.

You should pack some cheese, bread and luncheon meats for the journey but don't pack any water as the journey south will be of the cascading waterfall type.

If 1.2915 still holds while I sleep, I will announce the departure time when I see it unfolding.

Stay tuned.

[sdotwewen]

EURUSD is topping at 1.3042 on daily chart, key support is at 1.2865, a break below this level will confirm the cycle top, and further fall towards 1.2750 can be expected in the next several days. Near term resistance is at 1.3042, only break above this level may signal the resumption of the up trend. For long term analysis, EURUSD may be in long term bearish movement, a break below the key support at 1.2865 indicate long term bearish movement is underway, and further fall towards 1.2500 level can be seen in the next several weeks.
http://www.forexcycle.com/eurusd.html

[Trader02]

Sire, you're making me dizzy with these reversals from bullish to bearish to bullish calls.

Anyway, 1.2915 was broken.

So are we going to dive or are we going to have one more rally on 1H and 4H?

The up move from Jan 12 is still lacking a wave c rally to complete the move.

Is this what might happen?

That is my call -- cautiously!!!

Phew!

[sdotwewen]

EURUSD traded in a narrow range between 1.2865 and 1.3042. Key resistance is at 1.3042, a break above this level will signal the resumption of the up trend, and further rise above 1.3364 level can be expected. On the other side, EURUSD may be in medium term bearish movement, and the rise from 1.2865 is treated as in correction to the down trend, and a break below 1.2876 will confirm such case. For long term analysis, the previous low support at 1.2865 is the most important level in our view. A break below this level indicates the long term bearish movement is underway and fall towards 1.2500 level to reach the next cycle bottom on weekly chart can be expected. On the other side, if 1.2865 support holds, rise above 1.3364 level to reach the next cycle top on weekly chart is still possible next month, and a break above 1.3042 level may confirm such case.

[sdotwewen]

Trader02, I am posting long term analysis which is based on daily charts and weekly charts, not 1H and 4H charts. We use market cycle for our analysis, not Elloit wave. Wants to know more about our analysis, please visit these pages:

http://www.forexcycle.com/cycle.html
http://www.forexcycle.com/faq.html
http://www.forexcycle.com/eurusd.html

[Trader02]

Originally Posted by sdotwewen

Trader02, I am posting long term analysis which is based on daily charts and weekly charts, not 1H and 4H charts. We use market cycle for our analysis, not Elloit wave. Wants to know more about our analysis, please visit these pages:

http://www.forexcycle.com/cycle.html
http://www.forexcycle.com/faq.html
http://www.forexcycle.com/eurusd.html

Now that you've called me by name I would like to point out that if you are indeed doing long-term analysis based on weekly/daily charts, you should NOT be reversing these bearish/bullish stances so rapidly.

That was my point.

If you were focussing on 1H/4H, then of course that is normal.

But not on LT.

Regards