domingo, 11 de mayo de 2014

FOREX EUR/USD forecast and tactics Last Price 1.3757 05/12/2014

 FOREX EUR/USD forecast and tactics Last Price 1.3757  05/12/2014

Hi Everybody, today I want to analyze the EUR/USD chart.

I will try to establish some tactics for the next week.
During the last two days the currency went down in favor of USD. Maybe the infaltion on the euro zone does not convince.
 It´s probable that during the first day of trading the EUR will go up (it´s really oversold) however the price target I´m looking for lower than the last price.
Let´s see some technicals.
Supports and resistances:
S1:1.37167 S2:1.36312 R1:1.38379 R2:1.39671
The MACD is below the signal and now is going to cross the zero level.
The RSI is at 39% in a flat pattern.
The Stochastic is going down at 53% (it´s probable that will cross the 20%).
The DMI: +DI= 17.29  -DI=31.94
The ADX  is at 15.95 ( And it makes me think that the currency will bounce a little bit on the first sesions.)
The fast avg corssed the slow during the last day.
Let´s see the chart:

As you can see in this chart the curve broke the upside trend during the last sesion. The curve drew a double top and it could be an exhaustion signal. The tactic I recomend is to go short with a primary target at 1.37096 once the price arrives there Look at the buy range [1.36704;1.37167]. You can extend the target until 1.36704, very close to the AVG 200. On the other hand,  you better stay alert to the macroeconomical data. Specially the Consumers price index (EUR on Tursday), the US jobs report and the  basic consumers price index of USA.
I want to revise the tactics during the week if I have the time. Enjoy the rest of the weekend!! and remember to click in some ads before you leave this site. It´s easy for you and important to maintain this blog, Thank you :)