Greetings.

A lot of ups and downs in the EUR/USD and we hope everyone is in profit!

So, what’s coming up next for the EUR/USD? Referring to our hourly chart, after a sharp increase like the one we recently saw, look for a potentially slow and steady decline from the recent high. However, don’t be fooled - it appeas we are still in an uptrend so you should analyze the shorter time frames to find your entry price.

Look for the pair to potentially test the trend line drawn in. Again, this is not going to happen overnight so we’ll watch it as it unfolds next week.

If we don’t see you before the weekend, we hope everyone has a happy and safe weekend.

Cheers.

Hello and welcome back to another week of trading. The EUR/USD has seen topsy turvy movement as of late, however, the Euro Dollar still seems to be in a longer term bullish movement.

Refer to our chart for more intraday details on movement, but look for the pair to potentially come down to the 1.4200 area and below. Once it bottoms out (completing a Wave 2 correction of the upside movement), look for a Wave 3 movement up. It still does appear that we’re in an upward market for the EUR/USD. We will wait for further market movement to test and confirm our outlook.

Until then, look for shorter term downward movement and then heading back up again.

Apply your money management and use your stops.

Cheers.

Greetings.

Continuing with Vytas’s post/comment from earlier this week, let’s take a look at the EUR/USD. It was asked if we think the EUR/USD is still in an impulse movement up.

According to our analysis, it does seem that the EUR/USD is still in an impulsive movement up. Depending on which time frame you analyze the currency pair in, the longer time frames are still showing up.

However, please review our chart to show some the potential movement of the pair. Look for shorter term movement down and then a strong, impulsive movement back up (daily chart). We may be currently forming Wave 2 of an Impulse Wave 5.

Potential stop loss - 1.3832 (daily chart)

How high will it potentially go? Look for it to potentially test the 1.4400 area again. If it breaks that point and spreads away, then look for it to go as high as the 1.6000 area again and beyond.

Once we get a clearer picture of the shorter time frames, we’ll post that up.

Good luck with trading and see everyone again shortly.

Cheers.

Hello.

Thanks to Vytas for the question and comment on the EUR/USD. Here is our reply.

Back in a post on June 19 on the EUR/USD (http://blogs.fxstreet.com/tradersedge/2009/06/19/eurusd-a-little-longer-term-look/) we said it would potentially go up to the 1.4400 area and we’ve seen quite a move in the past couple of months and hit that level.

The question is, have we ended up the bull movement?

First off, we must point out this is a very volatile time for the EUR/USD and any trading should proceed with absolute caution and sound money management.

If you refer to our screen capture below (daily chart), it appears that we’re forming an Ending Diagonal (ED) as we’ve seen a sharp upward movement recently.

Looking at the shorter term (10 minute chart), we see a Contracting Triangle (CT), which shows that the bull run may be coming to an end, but expect to potentially see some more upward movement. We’re not saying it’s going to break 1.4400 and keep going up - not yet, anyway. But, if you’re thinking about getting into a long term sell trade, you may want to wait a little to see what unfolds as we feel there is still some small upward movements in the EUR/USD.

During these types of turbulent times, we also like to see what the other majors are doing (GBP/USD, USD/JPY and USD/CHF) to see if we can see any correlation between the majors.

So, hold off on the sell trigger for now, however, keep in mind that once this ED tops, it will move down very quickly and steeply so keep an eye out for it.

Good luck - be sure to apply your stops and use your money management.

Greetings.
 
Quite a trading day with the FOMC statement yesterday. Now that the dust has somewhat settled, let’s take a look at the EUR/USD.

Looking at an hourly chart, it seems we have potentially seen the end of the shorter term down movement for the completion of Wave 2. Now, it seems as though we’re heading up to see a Wave 3.

As you can see, we drew in a trend line. This trend line can be used as support, keeping in mind the currency pair may “wick” below the line briefly.

Thanks again to Sam for leaving me a comment and asking a question. This post is in reply to your question, Sam.

If you decide to trade this, be sure to place your stops and utilize your money management.

Good luck.

Sorry - forgot to add the graphic.

Greetings and welcome back to another week of trading.

The NFP announcement dropped the EUR/USD to the 1.4100 area and now we are seeing a steady rise back up.

Although the longer term charts are suggesting a downward movement, our shorter term analysis shows there is potentially still more up-movement ahead. Look for it to test the 1.4200 level (1.4190 - 1.4210) and beyond.

The market is going to take some time to adjust to the major move from last Friday so don’t be in any rush on this. Let the market unfold and have the trade come to you.

We’ll be sure to update you on the EUR/USD when we see how the market unfolds throughout the European session and opening of the New York session.

Good luck.

Greetings and welcome to another NFP trading day. I know a lot of Forex traders look forward to this day - it’s definitely a day that can either make you or break you very quickly

We’ll give you some analysis for the actual announcement as well as some potential movements for the next couple of days.

Economists predict a -330k to - 350k contraction in the job market and the unemployment rate is expected to climb a little further. If that happens, that plays right along with our technical analysis showing a short-term flat correction up then a 5 wave movement down before heading back up again.

This is a report day so keep your stop losses tight and be sure to monitor your trade.

We hope everyone has a good NFP trading session - make some pips and go enjoy your weekend.

Cheers!

Sentiment in the EUR/USD seems to remain bullish. Watch for a slight drop off in the start of the European session (down to 1.4350 area and below) and then a potential steady climb back up in a continuation of the uptrend.

Good luck and we’ll see everyone for the European and NY sessions today.

Cheers.

Be sure to check out the brand new features of tools on FX Street.

Margin Calculator (http://www.fxstreet.com/forex-tools/margin-
calculator/) to compute the margin you need to hold open positions.
Carry Trade Calculator (http://www.fxstreet.com/forex-tools/carry-
trade-calculator/) to buy and sell with the highest interest rate.
This tool helps you to capture the price appreciation or depreciation
in a currency while also profiting from the interest differential.
Profit Calculator (http://www.fxstreet.com/forex-tools/profit-
calculator/) to test different trading scenarios, enabling you to
project the amount of profit or loss that a potential trade may be
worth.
Spread Cost Calculator (http://www.fxstreet.com/forex-tools/spread-
cost-calculator/) to Get a better spread management. This tool allow
any trader to quantify the spread impact depending on your trading
style.

There are a total of 13 tools that you could use for your trading so take advantage of them.