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EURo to Decline Towards 1.1000

fxsurprise8 Posted 30 Giu as Analysis on EUR/USD, Target: 1.1015, Date: 3 di Agosto, 12:00 GMT  in #Technical analysis #USA #Euro #Europe #EUR/USD #Greece #Us Dollar #Grexit
The Euro will decline toward 1.1000. While the currency pair remains overbought, I think the coming summer season will dampen some of the sell-off. The true Euro losses will be seen in late August, early September. Why am I betting on more losses? Well the mess is Greece is one reason but since this is a technical analysis contest, let's stick to technicals. The chart below shows the trend for the single currency, unmistakeably down.
The EUR/USD has repeatedly failed to break above the 1.1400 ma…
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fxsurprise8 30 Lug

The Euro resumed its sell-off in July. Each rally has been used by bears to load up on the cheap. We are currently quoted at 1.0930, because we overshoot my 1.1015 target.

But with the summer dull-drums upon us, I expect the EUR/USD to rally back higher. The trend is down but I think the moves will be smaller and more range-bound. On the daily chart we are getting into oversold territory according to the RSI and Stochastic (8,3,3). Hopefully this means we will see a move higher soon.

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fxsurprise8 3 Ago

The Euro continues to swing widely around the 1.1000 handle. On Friday we broke higher by over 100 pips and hit 1.1113. But by the end of the session, the single currency retreated back to 1.0983. We are currently quoted at 1.0981, still about 25 pips away from my target.

As I explained in my post above, round numbers like 1.1000 can act as magnets for currency pairs, so it's no surprise to see the Euro oscillate above and below this important figure. Hopefully this effect will continue into the end of the contest and the EUR/USD drifts higher towards my forecast.

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EURo Set to Open 140 Pips Lower

fxsurprise8 Posted 28 Giu  in #Trader's blog #Euro #Greece #Grexit #Trader's Contest
According to early morning prices, the Euro will open at 1.1015, a full 140 pips below Friday's close. The ECB kept the ELA funding at the same level of 89 Billion Euros. This means that with ongoing withdrawals in Greece, the country's banks will be unable to fulfill withdrawals. News reports are saying that the Greek government will introduce week-long capital restrictions, until after the referendum on July 5th. But if other capital restrictions are a guide, it's likely that these restriction…
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