EUR/USD - Technical Forecast - UPDATED: 30th June 2010 - 13.45hrs GMT
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Today, we will use two charts, one of 15min and one of 60min. The daily and weekly do not reflect yet
the changes.
The above two charts describe perfectly the evolution of the EUR/USD parity since yesterday, 11.50hrs GMT. The lowest level of the yesterday's session proved for the time being sufficiently strong to rebound
the course of this parity. There are more news coming out latter today thus we will revert with a further
update if needed.
FORECAST: From the present situation we should keep in mind the red descending channel in the 60min
chart (the upper line). Eventual up penetration, subsequent confirmation will signal a significant increase of
this parity.
EUR/USD - Technical Forecast - UPDATED: 29th June 2010 - 11.50hrs GMT
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The above four charts indicate the position of the pair's parity at this moment.
ONE PICTURE EQUALS ONE THOUSAND WORDS.
FORECAST: We must wait to see the strength of the present supporting levels before
making any forecast. Obviously, weak support at these levels will push the parity far
below.
This material is provided for information purposes only and no information contained herein constitutes a solicitation for the purpose of purchase or sale of any commodity, security or investment, nor should it serve as the basis for any investment decision. Nothing in this site should be read or construed as constituting investment advice on the part of the Company, or any of its affiliates, directors, officers or employees.
AtlasCapital Financial Services Limited does not guarantee the accuracy or completeness of any information or analysis supplied and shall not be liable to any customer or third person for the accuracy of the information supplied through this service to a customer, nor for any delays, inaccuracies, errors, interruptions or omissions in the furnishing thereof, for any direct or consequential damages arising from or occasioned by said delays, inaccuracies, errors, interruptions or omissions, or for any discontinuance of the service.
Accessing this material in no way renders the user a customer of AtlasCapital Financial Services Limited, therefore AtlasCapital Financial Services Limited shall have no obligation whatsoever to any person accessing it. This material in no way takes into account special investment goals, the financial situation or specific requirements of individual users. You are strongly advised to obtain independent investment, financial, legal and tax advice before proceeding with any investment.
AtlasCapital Financial Services Limited website can be accessed worldwide, however, it may be the case that the financial instruments described are not legally permitted for all investor groups in all areas of the globe and that access to this website may be subject to legal restrictions. Users to whom such legal restrictions apply are not permitted to access this website and AtlasCapital Financial Services Limited accepts no responsibility for anyone accessing this site contrary to any relevant legal restrictions.
If you communicate with the company by email, you should note that the security of Internet email is uncertain. By sending sensitive and confidential messages which are not encrypted you accept the risks of such uncertainty and possible lack of confidentiality over the Internet.
EUR/USD - DID EURO START A LONG LASTING RECOVERY ? - 22nd June 2010 - 09.30hrs GMT
Some days ago, on June 7th 2010 at 09.40hrs GMT, we announced that EUR/USD's parity was touching its 200SMA in a monthly chart. Please visit our posting clicking the link herebelow.
http://www.atlaseforex.com/Tools-and-news/News/------EUR-USD-09-40hrs-GMT-June-7th-2010------Pric.aspx
We also forecasted that a positive reaction was expected. Indeed, we were right. The parity of the EUR/USD pair reacted positively and since then recovered almost 600 pips.
What is next? Is this correction to last for a long period?
In the daily chart here above we present the EUR/USD fall from the level of 1,5150 to the level of 1,1870.
Our forecast includes: a Fib time scale taking as 0 level the 1,5150 value and 1,00 level the 1,1870 value.
We also apllied a Fib retracement scale for the same period.
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Here above we present a weekly chart for the same pair, EUR/USD.
You can observe the 50SMA touching from above the 200 SMA and the thick diagonal lines, part of a large Andrew's Pitchfork (including extensions). Also, the support and resistance levels expected.
The parity price is close to the fast moving 10 periods SMA (blue thin line).
From the 60 min chart presented herebelow, we observe the reaction as developed since the 7th of June 2010. At this moment, the parity is supported by the respective 200 SMA. We applied a Fib retracement to follow the development of the down turn from the level of 1,2490.
FORECAST: We believe that EUR/USD will move further up only if we observe a correction of this first up move (1,1860 to 1,2490) measurable by the retr Fib in the 60 min chart.
This material is provided for information purposes only and no information contained herein constitutes a solicitation for the purpose of purchase or sale of any commodity, security or investment, nor should it serve as the basis for any investment decision. Nothing in this site should be read or construed as constituting investment advice on the part of the Company, or any of its affiliates, directors, officers or employees.
AtlasCapital Financial Services Limited does not guarantee the accuracy or completeness of any information or analysis supplied and shall not be liable to any customer or third person for the accuracy of the information supplied through this service to a customer, nor for any delays, inaccuracies, errors, interruptions or omissions in the furnishing thereof, for any direct or consequential damages arising from or occasioned by said delays, inaccuracies, errors, interruptions or omissions, or for any discontinuance of the service.
Accessing this material in no way renders the user a customer of AtlasCapital Financial Services Limited, therefore AtlasCapital Financial Services Limited shall have no obligation whatsoever to any person accessing it. This material in no way takes into account special investment goals, the financial situation or specific requirements of individual users. You are strongly advised to obtain independent investment, financial, legal and tax advice before proceeding with any investment.
AtlasCapital Financial Services Limited website can be accessed worldwide, however, it may be the case that the financial instruments described are not legally permitted for all investor groups in all areas of the globe and that access to this website may be subject to legal restrictions. Users to whom such legal restrictions apply are not permitted to access this website and AtlasCapital Financial Services Limited accepts no responsibility for anyone accessing this site contrary to any relevant legal restrictions.
If you communicate with the company by email, you should note that the security of Internet email is uncertain. By sending sensitive and confidential messages which are not encrypted you accept the risks of such uncertainty and possible lack of confidentiality over the Internet.