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EURUSD keeps its head up

The EURUSD is still trying to move northward to the 1.3110 target (1.270 fib extension).  Currently consolidating so watch for a breakout to get that target.  Downside risk is at 1.2938 ( R3 and .618 fib...

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EURUSD approaches .786 fibo

Market is squaring up yesterdays move and is approaching the .786 retrace of yesterday.  Barring a bounce here the targets south are 1.2771 ( S3) and then the support at 1.2738.  Further target lies at 1.2682 –...

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EURUSD – looking for the breakdown

EURUSD has retraced to the .500 fib and is poised to begin the fall.  The bottom trendline was broken indicating the Euro weakness and the target area is 1.2652 (confluence of the .270 fib Extension, the 5th support S5 and...

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EURUSD approaching the trendline

Watch for the reaction at the trendline. Should get at least a small bounce and then if it holds look for the 5th wave to start up (?). If it does no look for deeper correction to the .382 retracement at...

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EURJPY – will it break out of the range?

We have had 4 tests of the bottom of the range @ 111.50.  Market may exhibit a small pullback and try to break it.  If so look for the 111.00 as the first target ( .270 fib extension- S4) a break further targets the...

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Dollar still under pressure

EURUSD hit the key resistance of 1.3000.  It is Friday so be cautious as they could square up vs. continue this rally.  The 1.270 Fib Extension coincided  with the key psychological area of 1.3000 and may yet...

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Euro still hot

EURUSD moved very close to the 1.2900 target area.  Currently has taken out the .618 fib EXTENSION.  There is strong Resistance at 1.2887 but since that is so close to the 1.2900 I think traders will take out the...

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AUDUSD-Targets hit-pullback likely

Aussie hit our targets to the pip.  We have divergence in the cross and a rising wedge BOTH lends itself to at least a pullback.  Looking for a pullback to the .8722.  A deeper plunge would be the .8559 over the...

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