Sell EUR/USD : Failed Symmetrical Triangle & Broken Support Area

The EUR/USD seemed to move in a side way horizontally till it broke the support area (1.2817-1.2804) downwards confirming the daily downtrend & the weekly downtrend also (see the weekly chart).

The support area were represented by the low of September 30, 2012 & the high of September 07, 2012.

The next support area that will face the declining of the EUR/USD will be (1.2747-1.27245) represented by the high of June 17, 2012 & the Mid price ((high+low)/2) of September 7, 2012.

My opinion: sell EUR/USD , Target at 1.2747-1.2724.

EUR/USD October 17, 2012 : Bullish Symmetrical Triangle Formation

The Symmetrical triangle formation pattern is a continuation pattern, that's mean the trend will continue in the same direction.
But how can i recognize the symmetrical triangle ? let's see .....
In this case the EUR/USD chart is in an uptrend making higher highs and higher lows but something strange (unusual) happened was that the lower high, so there were several possibilities:
1- The lower high followed by lower low, means the end of the daily scale uptrend and the beginning of the daily scale downtrend.
2- The lower high followed by higher low "like this case" means the conflict between the buying power and the selling pressure, i prefer to call it "the equality" between both the buyers and the sellers.

Then at this case "No.2" join the high with the lower high & join the low with the higher low, the output will be the triangle ribs which contains the price within it.

 If the price action break the upper boundary of the symmetrical triangle upwards "and this is the most probably" as the trend is up and the pattern is continuation, so buy or wait the declining of the price to retest the upper boundary of the triangle as a support then buy.

The target will be the vertical base price distance of the triangle, calculate it and then add it to the price at the breakthrough point of the upper boundary.

September 8, 2012 The EUR break the upper boundary of the down trend channel

At last, What we were waiting for the last three months were achieved yesterday.

The EUR/USD price break the upper barrier of the down trend channel Announcing the end of the down trend and the possibility of either the sideways or an uptrend.

If . . . 

The macd indicator move near or very close to its zero line . . .

The Trix indicator also move near or very close to its zero line . . .

The ADX indicator is declining or move near or most likely below its 20 line . . .

The 20 days simple moving average is moving horizontal . . .

So . . . the trend probably is a sideways , in this case i would recommend to use the [ Stochastic oscillator (9.5,3) over bought over sold strategy with the crossing strategy ] and the Bollinger Bands to gain profits.

Otherwise . . . You know what to do in an uptrend : buy and hold till the indications of weakness begin to appear.

EUR/USD May 23, 2012 Down Trend Channel

A down trend line represents the upper boundary of a down trend channel appears easily on both the daily and the weekly  EUR/USD chart.

The upper boundary trend line formed by joining the highs of the three candlesticks of  the following days trading:

1- August 29, 2011 with high value 1.45480.

2- October 27, 2011 with high value 1.42470.

3- May 1st, 2012 with high value 1.32830.

The lower boundary parallel line is formed by joining the lows of the two candlesticks of the following days trading:

1- October 4, 2011 with low value 1.31440.

2- January 1st, 2012 with low value 1.26230.

The break of the upper boundary upwards will be a buying opportunity , and will be more confirmed if the price retest the trend line as a support after breaking it upwards.

But the more likely scenario is that the price action will reach the lower boundary , cause their is no bullish indication appears to me , technically of course. 

EUR/USD May 17, 2012 : Target at 1.25

After descending triangle formation , the price break down the lower boundary , target for buying at 1.25 , which is by the way an historical support

Positive Failure Swing by the Relative Strength Index - EURUSD - December 23, 2011

A positive buy signal occurred by the RSI indicator which is the positive failure swing , one bottom is under line 30 in the oversold area and the second bottom is above the line 30 , the RSI break the neck line between the two bottoms upwards which is a positive sign , this RSI formation is very quick but very strong "look at the historical performance of the RSI concerning this issue."

EUR/USD December 16, 2011

The difference between the technical analyst and any other investor is that the technical analyst wouldn't surprise if the market moves contrary to his expectations, he knows how to act and what to do.


Here are a list of an indicators that expected the previous move of the EUR/USD.


1- 20 days simple moving average.
2- Stochastic Oscillator (9,5,3).
3- Positive DI & Negative DI.
4- Bollinger bands.


and here are the charts photos for the previous indicators behavior.

And here are a list of a leading indicators that should predict the next coming move of the EUR/USD.

1- MACD.

2- MACD Histogram.

3- Trix Indicator.

and here are the charts photos for the previous indicators

And here are a chart showing the next support level

EURUSD is forming a cycle bottom

http://www.forexcycle.com/eurusd-analysis/38079-eurusd-analysis-december-10-2011.html

EUR/USD sentiments December 09, 2011

Why analysts are bearish about euro/usd but I don't !

Most technical analysts see the downward trend of the euro on charts with different time frames, and also there are the fans of Fibonacci, they see it as the greatest mystery of the universe and markets prices as well.

For this we will reveal the methods of these analysts by showing the charts which is the best way to express their analysis:

But however I agree with them about the fact of the downtrend in euro and the genius Fibonacci lines, but these are not my preferred methods to gain and make profits from the financial markets in General.

I preferred to discover the bottoms and peaks, whether within the bearish downtrend trend or within the uptrend and determine the move which is a part of the trend through the overbought-oversold indicators.

In summary I am waiting the beginning of a potential weekly upward move to buy euro.

EUR/USD "Rising movement will extend for weeks"

This Willaims % R indicator was moving in the over sold area under the line (-80) or nearby, but noticed that on the daily chart there is a significant purchasing power have led the Willaims % R to rise above the line-50, which represents the median line between oversold and overbought areas.

As for the weekly chart, Willaims % R remains below-80 which means is in the oversold area and it portends an upward movement may extend for weeks to any breakthrough line-80 up and that's what i am waiting.

Chande momentum oscillator featuring that its signals are rare and therefore they are powerful,its signals is in the overbought and oversold areas, as we noticed that on the daily chart the indicator reach the line (-50) wich means an oversold area prices witnessed, it portends the beginning of a new bullish movement, and as for the weekly chart the Chande momentum oscillator is far from the oversold area, but at the same time do not forget that it is under the (zero) line, which represents a median line between oversold and overbought areas and in the case of breaking up the (zero line) would be a good buy and this is what i am waiting.

As for the Intraday momentum index is also have a scarce signals, it supports Willaims % R and the Chande momentum oscillator.

In summary, despite the end of the falling wedge formation, price breakthrough for the upper boundary of the formation representing a buy signal but this movement is a short and will last for days only, but indications predict an advent of a rising movement will extend for weeks and that's mean more profit, and therefore I think you should wait for this movement and postpone the buy decision. 

EUR/USD : MACD histogram : Bullish positive divegence

A positive divergence occurred between the macd histogram & the eur/usd price action, but it is a leading indication so wait the buy signal.

EUR/USD "a bullish harami occurred"

A bullish harami occurred where the current small white body is contained within an unusually large black body during a downtrend, this pattern implies an end to the decline as the bears appear to have exhausted themselves.

In the meanwhile, the EUR/USD price still inside the Bullish falling wedge formation, which means that the buy signal didn't triggered yet, "wait my buying signal"

Euro will rise very soon 25-11-2011

potential Bullish Falling wedge for the EUR/USD daily chart will Push the Euro to rise very soon,  after breaking the trend line upward this will be considered as a good buy signal.

So wait my buying signal. 

Buy Gold 24/11/2011

Now gold is witness a bottoming formation as it reached to an oversold area referring to daily Stochastic (9, 5, 3), Williams % R (14) & Ultimate oscillator with confirmation of the Bollinger bands, I think that it is a great opportunity to buy gold now and wait my sell signal to gain profits at the upward move's peak.

Livecharts.co.uk confirm my opinion on the USD/EUR chart monthly sideways

I see a daily Rising Wedge formation which is bearish , target will be at 0.701

Do not buy the US Dollar now against the Euro, the Dollar's current price zone is not bullish at all, it may be your own desire now to buy the US Dollar against the Euro, but you certainly do not aim to profit from trading FOREX, if there is no need to buy the US Dollar, would prefer to keep the Euro at least in the short term.

USD/EUR Supports & Resistances

Important support zone between 0.723 and 0.721.
Important resistance will be at 0.7447 level.


Strong support level at 0.701
Strong resistance level at 0.760

USD/EUR Sell

The Dollar/Euro Chart is in a monthly sideways starting from 21, October 2009 with a price 0.66 €, and now it is in a monthly upward move from an oversold area with a lowest price 0.669 € dated 4th of May 2011, if we look at the daily time frame we will notice that the price now is in a daily upward move starting from a price 0.701 € dated 27th of October 2011.

My opinion is that the Dollar/Euro now is in an daily over bought area refer to the Williams % R indicator and the price action is making a peak formation in all time scales, so sell dollar.