EURUSD Forex forecast (11 — 15 June 2012)


EURUSD forex trading forecast for next week: 11 — 15 June, 2012

As always, we analyze the closure last week about important price levels and the support and resistance lines:

1) The weekly candlestick candle shut white with a tail on top

2) The price has not reached the red retest the trend line long

3) Candle of candles on Friday shut down in black with a long tail below.

Conclusion: The motion last week, like corrective, with respect to the last downtrend, as well as any reversal patterns and combinations can be seen clearly, we can conclude that the motion is possible both up and down next week.

Now let’s consider the most important levels of resistance to movement of the price for buying and selling, on the closing price of the week.

This forex forecast will be quite brief, as the major resistance levels for the price of last week, almost worked …

First of all, let us consider the important resistance levels for the price move above the current closing price of the EURUSD, on which may occur otboi for buying and selling:

1) On Friday, the price broke through the small blue channel and went to retest its bottom-up + the level of 38.2% Fibonacci of the downward movement of Thursday-Friday. This is the point to sell when the price of course will not open on Monday with a gap in one of the parties.

2) If the price goes up, then returns to the same channel and the blue dot next to the sale — the level of 61.8% Fibonacci + red trend line is rising (it retest).

3) The level of 1.2666 — retest the long-term trend line of red + level 38.2% Fibonacci of the last downward move down. On this signal, we talked in the past forex forecast for EURUSD. Similarly, we are interested in at this level as a closed day or week on this same trend line.

4) It is also interested in how to behave at the level of congestion price Fibonacci (Fibonacci 38.2% with a maximum of 24 February 2012 + level 161.8% of the traffic on Thursday-Friday of last week) — 1.2740. Taps can certainly down, but it is interested in closing the day with respect to this level. For transactions in the sale, it is necessary so that the price has closed below the red and the long-term trend line.

5) The blue trend line and again the same — with respect to its closing date. If the day closes above it, the priority of sales increases, and as this level can serve as a resistance level while driving down from the next level — 61.8% Fibonacci (1.29).

6) The level of 61.8% Fibonacci (1.29)

7) The top blue line is a long-term trend level of + 61.8% Fibonacci (with a maximum of 24 February 2012). At this level, we also are interested in closing the day and better week! Break or rebound from this level and will identify priorities for further movement of both downwards and upwards. More details have already described this level in the past, forex trading forecast for the week.

If the price goes down:

1) Break the green trend line on the bottom + retest it — sell. The immediate objective — the level of 1.2416 (61.8% Fibonacci of the upward movement of the last 2 weeks) and then — retest background blue channel + may retest the green trend lines long.

2) retest a background of blue channel + may retest the green trend lines long — a point on the buying, but I think I have time. As the fastest, this retest will be lower than the 76.4% Fibonacci of the recent upward movement.

3) Break the green trend line and its long-term retest bottom-up — a point to sell. The immediate goal — minimum Census June 1, 2012, and then brown the trend line.

4) Since we are interested in how to behave with respect to the price of brown trendline — a retreat from it and closing the day above it — maybe move up, especially if the divergence of MACD, for example. Closing of the day and better week below it — a downward spiral.

5) Light green trend line — already wrote about it in the past, the forex forecast for EURUSD.

6) The blue line is a long-term channel. Just describe it in detail will not, since the last forecast said it’s all about, and I do not see sense to repeat …

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