VienTradingSystem: EURUSD

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Thursday, August 14, 2014

EUR/USD Daily Outlook

8/14/2014 04:01:00 PM Unknown

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.3331; (P) 1.3373 (R1) 1.3404; More....

Intraday bias in EUR/USD remains neutral as consolidation from 1.3332 continues. With 1.3444 resistance intact, deeper fall would still be seen to 100% projection of 1.3993 to 1.3502 from 1.3700 at 1.3209. But in that case, strong support should be seen there to bring rebound. Meanwhile, above 1.3444 will confirm short term bottoming and turn bias back to the upside for 1.3502 support turned resistance.

In the bigger picture, overall price actions from 1.6039 is viewed as a corrective pattern. One interpretation is that fall from 1.6039 to 1.2329 was the first leg. Price actions from 1.2329 were the second leg, in form of a triangle. In such view, the fifth leg of the triangle pattern could have completed at 1.3993 already. In other words, the decline from 1.3993 is resuming the fall from 1.16039. Medium term outlook will now stay cautiously bearish as long as 1.3700 resistance holds. Break of 1.2755 key support level will raise the chance of an eventual break of 1.1875 low.

http://www.actionforex.com/action-insight/eurusd-outlook/eur%10usd-daily-outlook-20140814222461/

EURUSD / Technical

Friday, August 1, 2014

#EURUSD Daily Outlook

8/01/2014 05:23:00 PM Unknown

A temporary low is in place at 1.3366 and intraday bias in EUR/USD is turned neutral for the moment. Some consolidations would be seen but upside of recovery should be limited by 1.3486 resistance and bring fall resumption. Below 1.3366 will extend the whole fall from 1.3993 towards 100% projection of 1.3993 to 1.3502 from 1.3700 at 1.3209 next

In the bigger picture, overall price actions from 1.6039 is viewed as a corrective pattern. One interpretation is that fall from 1.6039 to 1.2329 was the first leg. Price actions from 1.2329 were the second leg, in form of a triangle. In such view, the fifth leg of the triangle pattern could have completed at 1.3993 already. In other words, the decline from 1.3993 is resuming the fall from 1.16039. Medium term outlook will now stay cautiously bearish as long as 1.3700 resistance holds. Break of 1.2755 key support level will raise the chance of an eventual break of 1.1875 low.

source

http://www.actionforex.com/action-insight/eurusd-outlook/eur%10usd-daily-outlook-20140801221515/

EURUSD / Technical

No Comments

Thursday, July 31, 2014

EUR/USD Daily Outlook

7/31/2014 02:06:00 PM Unknown

Intraday bias in EUR/USD remains on the downside with 1.3415 minor resistance intact. The fall from 1.3993 is expected to extend to 100% projection of 1.3993 to 1.3502 from 1.3700 at 1.3209 next. On the upside, above 1.3415 minor resistance will turn bias neutral and bring recovery. But upside should be limited by 1.3502 support turned resistance and bring fall resumption.

In the bigger picture, overall price actions from 1.6039 is viewed as a corrective pattern. One interpretation is that fall from 1.6039 to 1.2329 was the first leg. Price actions from 1.2329 were the second leg, in form of a triangle. In such view, the fifth leg of the triangle pattern could have completed at 1.3993 already. In other words, the decline from 1.3993 is resuming the fall from 1.16039. Medium term outlook will now stay cautiously bearish as long as 1.3700 resistance holds. Break of 1.2755 key support level will raise the chance of an eventual break of 1.1875 low.

EURUSD / Technical

No Comments

EUR/USD Mid-Day Outlook

7/31/2014 12:03:00 AM Unknown

EUR/USD's fall accelerates to as low as 1.3369 in early US session and break mentioned 61.8% projection of 1.3993 to 1.3502 from 1.3700 at 1.3397 target. Intraday bias is remains on the downside. Current fall should now target 100% projection at 1.3209 next. On the upside, above 1.3415 minor resistance will turn bias neutral and bring recovery. But upside should be limited by 1.3502 support turned resistance and bring fall resumption.

In the bigger picture, overall price actions from 1.6039 is viewed as a corrective pattern. One interpretation is that fall from 1.6039 to 1.2329 was the first leg. Price actions from 1.2329 were the second leg, in form of a triangle. In such view, the fifth leg of the triangle pattern could have completed at 1.3993 already. In other words, the decline from 1.3993 is resuming the fall from 1.16039. Medium term outlook will now stay cautiously bearish as long as 1.3700 resistance holds. Break of 1.2755 key support level will raise the chance of an eventual break of 1.1875 low.

http://www.actionforex.com/action-insight/eurusd-outlook/eur%10usd-mid-day-outlook-20140730221358/

EURUSD / Technical

No Comments

Wednesday, July 30, 2014

EUR/USD Elliott Wave Analysis

7/30/2014 02:07:00 PM Unknown

The single currency dropped again after meeting renewed selling interest at 1.3549 earlier last week and broke below indicated support at 1.3477, adding credence to our view that top has been formed at 1.3993 and the decline from there is still in progress and bearishness remains for at least a strong retracement of the entire rise from 1.2042 (2012 low) to 1.3390-00 but reckon support at 1.3295 should hold on first testing, price should stay well above support at 1.3105 (Sep 2013).

Our preferred count on the daily chart remains that a wave (II) from 1.2329 ended at 1.5145 with A-leg ended at 1.4720, followed by wave B at 1.2457, the wave C from there was also a 3 legged move and is labeled as (a): 1.3739, (b): 1.2885, the wave iii of the 5-waver (c) from 1.2885 has ended at 1.4339 and wave iv is a triangle ended at 1.3878 and wave v formed a top at 1.5145. The decline from there is a 5-waver (C) with minor wave (i) of I of (C) ended at 1.4218 with wave (ii) ended at 1.4580, wave (iii) ended at 1.3267 and wave (iv) ended at 1.3692 and wave (v) ended at 1.1876, this is also the low of wave I of (C) and wave II has possibly ended at 1.4940, hence wave III is now in progress with a diagonal wave 1 ended at 1.2042, wave 2 already met indicated retracement target at 1.3833-35 (61.8% Fibonacci retracement of

On the upside, whilst recovery to 1.3490-00 cannot be ruled out, reckon 1.3540-50 would limit upside and bring another decline to aforesaid downside targets. Only above resistance at 1.3651 would dampen this bearish view and risk test of resistance at 1.3700, if euro is able to close above this level on a daily basis, this would signal the first leg of major decline from 1.3993 top has ended and risk a stronger rebound to 1.3800-10 and possibly to 1.3850-60 but upside should be limited to 1.3900 and bring another decline later. Only break of 1.3996-1.4000 (previous chart point and psychological resistance) would signal the rise from 1.12042 (2012 low) has resumed in wave (c) of larger degree wave 2 for gain to 1.4045-50 (50% projection of 1.2755-1.3894 measuring from 1.3477) but reckon upside would be limited to 1.4140-50 and 1.4233-48 (1.618 times projection of 1.2755-1.3453 measuring from 1.3105 and previous chart resistance) should hold from here, bring another strong retreat later.

Recommendation: Sell at 1.3545 for 1.3250 with stop above 1.3645.

Euro's long-term uptrend started from 0.8228 (26 Oct 2000) with an impulsive structure. The rise from 0.8228 to 0.9593 (5 Jan 2001) is labeled as wave I, the retreat to 0.8352 (6 Jul 2001) is wave II and the rally to 1.3670 (31 Dec 2004) is wave III. Wave IV from there ended at 1.1640 (15 Nov 2005), the subsequent upmove to 1.6040 (July 15, 2008) is treated as wave V, the major selloff from the record high of 1.6040 to 1.2329 (October 27, 2008) signals a reversal has taken place with (I) leg ended at 1.2329 and once (II) ended at 1.5145, wave (III) itself is an extended move with I: 1.1876 and complex wave II should be limited to 1.5145, bring wave III decline later.

EURUSD / Technical

No Comments

EUR/USD Daily Outlook

7/30/2014 01:55:00 PM Unknown

Intraday bias in EUR/USD remains on the downside for 61.8% projection of 1.3993 to 1.3502 from 1.3700 at 1.3397. As noted before, the medium term trend is reversing. Break of 1.3397 will target 100% projection at 1.3209. On the upside, above 1.3445 minor resistance will turn bias neutral and bring consolidations. But upside should be limited well below 1.3700 resistance and bring fall resumption.

In the bigger picture, overall price actions from 1.6039 is viewed as a corrective pattern. One interpretation is that fall from 1.6039 to 1.2329 was the first leg. Price actions from 1.2329 were the second leg, in form of a triangle. In such view, the fifth leg of the triangle pattern could have completed at 1.3993 already. In other words, the decline from 1.3993 is resuming the fall from 1.16039. Medium term outlook will now stay cautiously bearish as long as 1.3700 resistance holds. Break of 1.2755 key support level will raise the chance of an eventual break of 1.1875 low.