Analysis for EURUSD 03 – 07 Jul

Previous Week (13 – 17 July)

O: 1.4135 H: 1.4291 L: 1.4118 C: 1.4214

Last Week (27 – 31 July)

O: 1.4192 H: 1.4304 L: 1.4007 C: 1.4251

Weekly

• This pair is still trading within a rectangle
• Week closed with a small upclose candle with a rejection twice its true body size.

• As this pair have been trading within the same rectangle for the past 10 weeks, 1.4300 will be an extremely sensitive area as it has tried to break through this area but failed.
• Trend is bullish but trade base on price action with attention to support and resistance to set stop loss and take profit.

Daily

Hourly

Expected for this week:

• Another choppy week is expected especially during the NY session with important fundamentals throughout the week.
• This pair is clearly in an uptrend as it is trading higher and broken all three resistances i.e. 1.4095, 1.4114 and 1.4145.
• However, 1.4300 is still a HUGE resistance but we will expect this level to be broken and see a higher high for the week.
• Trade based on price action only with tight stop losses set at support and resistances.

Resistance: 1.4277, 1.4297, 1.4352, 1.4378, 1.4456

Support: 1.4064, 1.4032, 1.4013, 1.3982

Analysis for EURUSD 27 – 31 Jul

Previous Week (13 – 17 July)

O: 1.3972 H: 1.4165 L: 1.3897 C: 1.4106

Last Week (13 – 17 July)

O: 1.4135 H: 1.4291 L: 1.4118 C: 1.4214

Weekly

• This pair is still trading within a rectangle
• Week closed with a small upclose candle.

• As this pair have been trading within the same rectangle for the past 9 weeks, 1.4352 will be a rather sensitive area.
• if it fails to break through that area, it will create a triple top.
• Overall bullish but watch out for 1.4352 for Price Action.

Daily

Hourly

• On the hourly we have a bearish set up with a possible bear flag and closing wedge.

Expected for this week:

• This pair is in an uptrend however, a reversal is possible as

a) we may see a correction in the equities indexes

b) the euro rose last week on improved confidence

• We may probably see a low of the week at around 1.4123.
• Highs may probably be limited at 1.4290 but if it manages to breakthrough, look for 1.4352 and watch for a triple top.
• Trade based on price action as it is clearly still in a range and will expect the early week to be rather choppy.

Resistance: 1.42900, 1.4334, 1.4352, 1.4363, 1.4435

Support: 1.4089, 1.4123, 1.4162, 1.4186, 1.4206, 1.4225, 1.4250

Fundamentals for EURUSD 27 – 31 Jul

Mon – NY session

Tue – NY session

Wed – NY session

Thu – NY session

Fri – NY session

EURUSD Analysis for EURUSD 20 – 24 Jul

Previous Week (6 – 10 July)

O: 1.3959 H: 1.4072 L: 1.3832 C: 1.3948

Last Week (13 – 17 July)

O: 1.3972 H: 1.4165 L: 1.3897 C: 1.4106

Weekly
Daily

Hourly

• Trade base on price action for this week as it is clearly still in a range.
• We could probably expect a small downclose candle on the daily in the earlier part of the week followed by a large upclose on Wednesday with a range on Thursday and Friday.

Resistance: 1.4086, 1.4182, 1.4250, 1.4337

Support: 1.4041, 1.4007, 1.3971, 1.3887

Fundamentals for EURUSD 20 – 24 Jul

Mon – Japan closed

Tue – NY session Bernanke speaks

Wed – NY session Bernanke speaks

Fri – Euro session news

Short for the Asian Session

Entry: 1.3998
SL: 1.3996
TP: 1.3930 (may change)

Trade today/

Closed +40 long on EURUSD

EURUSD: Still Maintains Its Nearer Term Bearishness Below The 1.4200 Level.

EURUSD- With weakness triggered off the 1.4200 level, its July 01’09 high driving the pair further lower though closing marginally at 1.3936, EUR remains vulnerable while holding below the 1.4200 level.

This remains our nearer term view and that leaves further downside prices being targeted with the 1.3831 level, its July 08’09 low seen as the initial support. A close below there will highlight the 1.3738 level, its Mar 19’09 high where a cap is expected.

That level should hold and preserve its medium term uptrend started at the 1.2456 level. However, if that level snaps, lower level prices should shape towards its May 18’09 high at 1.3422. Its weekly RSI has turned lower supporting this view. On the other hand, in order for our downside view to be annulled, a return above the 1.4200 level must be seen followed with a recapture of its YTD high at 1.4339 Beyond there will resume its medium term uptrend towards the 1.4719 level, its Dec 18’08 high. On the whole, while EUR maintains below the 1.4177/1.4200 area, it remains vulnerable to the downside in the nearer term

Directional Bias:
Nearer Term –Bearish
Short Term – Mixed
Medium Term –Bullish

Performance in %:
Past Week: -0.31%
Past Month: -0.83%
Past Quarter: +5.89%
Year To Date: -0.25

Weekly Range:
High -1.4072
Low -1.3833

Weekly Chart: EURUSD

Weekly Analysis GBPUSD: 13 - 17 July 2009

Previous Week (29 June -3 July)
O: 1.6512 H: 1.6742 L: 1.6277 C: 1.6306

Last Week (6 – 10 July)
O: 1.6305 H: 1.6379 L: 1.5982 C: 1.6206

Weekly Chart

• Closed as a hammer on the weekly chart and rejected 23.6 on the FIBO.
• Trading between 1.6732 and 1.5965

Daily Chart

• Using overtaking method, we will expect this pair to trade up on Monday’s open.
• However, expect some resistance at 1.6386, 1.6523.
• As we are expecting a stronger dollar, the bull on this pair is limited and 1.6588 may be the high of the week.

Hourly Chart

• Trading within a triangle during the last hours of the trading week with bottom rejection.
• Even though the trend was down, there is still momentum for an upside from a top to bottom approach.

Scenario for this pair: Expect an early bullish week to an upside of 1.6386 1.6523 and 1.6588. However as we are in favor of a stronger dollar, we may see a bear ride down to 1.6247, 1.6160, 1.6113, 1.6029.

Fundamentals:

Tuesday – Europe and NY session

Wednesday – Europe and NY session

Thursday – NY session

Friday – NY session