Forex Forecast EURUSD (6-10 February 2012)


Dear traders, now propose to make only a brief analytical review of EURUSD + just a short EURUSD forex forecast for next week — 6-12 February 2012, as the price for a week traded in the range of 200 points and we were closing the week almost at the opening of the last

The analysis of the forex market for the currency pair EURUSD over the last week — January 30 — February 3, 2012.

Monday — January 30

After the market opens on Monday, the price goes down to the black line channel + light purple trend line drawn through the minima of last week’s tests, these two lines, but still knocks them down. Rewrites at least Friday and bounces up — again to the black line of the channel, test it, and breaks up with and closing day, black candlesticks with a tail bottom.

Tuesday — January 31

Price rises up to the level of 76.4% on the motion Monday, is set down, testing the purple trend line from top to bottom and then rewrites the high of the day, and then breaks down all of the following resistance levels: magenta trend line, the black line of the channel, purple line + neckline trend expected (though not ideal) pattern «head and shoulders». Price bounces on the level of 61.8% Fibonacci of the recent upward movement of the medium-Friday last week. Then, rising up to retest the neckline expected pattern. Day of the black candle closes the sale, with the tail of the body above the candles.

On the same day we received the first month of the closure in 2012 of white candles sliding door stop and a long tail below. Moreover, it should be noted that we were actually closing the month within the black channel.

EURUSD Analytics

Wednesday — February 1

Price rewrites at least the day before and not wanting to go further down, going up, consistently punching «the neck», a black line of the channel and is testing a line punched purple channel, but a significant rebound down we do not get the price breaks through and closes above the purple line of the channel, then is pierced retest of the channel is already a top-down and a census of the maximum on Tuesday. After that the price falls again in trendlines purple + purple line of the channel, where the day and closes now the white candle and the body absorbs daily candle body day.

Thursday — February 2

Price moves within the purple line of the channel and it still breaks down, testing and punches purple trend line, and then retest it and + purple line of the channel bottom-up and move on to the black line of the channel, hang up and closing the day at Ryan purple trend line of candles uncertainties in black.

Friday — February 3

Price bounces from the red trend line drawn through the minima of the medium-Thursday, purple trendline breaks up on the news Nonfarm Payrolls rewrites most of Thursday, but still does not break trendline drawn on the last week of highs and goes down, the red trend line breaks , then a gray line down the canal, but the closing hour, we still get a gray line above the channel, the price of red and purple is testing the trend line, where we get the closing date of the uncertainty of white candles.

Sunday closed the black candle with a long tail from the bottom, more inclined to buy.

Forex EURUSD forecast for next week — January 30 — February 3, 2012.

Based on the closing months of last week, and it can be assumed that after all transactions for the purchase of preferred. But here’s the question remains how long they would prefer? ..

In the past forex forecast, I wrote that in the course of price movements for the purchase, there is quite a serious area of ​​resistance: the level of 38.2% Fibonacci of the recent downward movement of + light pink trend line (long term). This zone is the price has not yet been tested, not only is the price all week and even after a rather important news, not tested it … Besides, the price did not want to approach this area, and is consolidated in the pink channel, with a small setback prices down, which very similar shape to continue the movement — «Flag«. Of course we do not see this as a channel of clear waves ABC, but nevertheless, the downward movement we do not see the whole week. Although it is known that if the price is going up, then go down, but in this situation, she does not go down, is it still possible to continue the movement up or down, but for this price is to break and close daily candle above or below this channel.

As for my personal opinion, it is slightly forked. I believe that the upward movement still more likely, but the first goal — of course the resistance zone, which I wrote above (in addition to the divergence of the EURUSD (H4) can still occur if the downward movement will not be in the next day or two, and the price moves up), but secondly I do not exclude the possibility of breakdown of this area and further upward movement with the goals of which I wrote last week.

Based on the above described, let’s try to make a forex forecast for next week.

Deal to buy:

1) level of 1.30 — the level of 38.2% from the last upward movement + bottom line is a pink background channel. Stop-loss — below 1,2910-1,2930. Profit — the opposite line of pink channel, then the level of 1.3240, light pink trend line, the upper channel line of gray, dark pink long-line of the channel.

2) The breakdown and the possible closure of the daily candle above background pink canal and if — it retest — purchase stop-loss — below the upper boundary of channel + possible below the critical level of Fibonacci from the last upward movement in the channel. Profits — the same as in paragraph (1) for purchases.

3) Pay for the next trend line (buy them at the breakdown of a bottom-up and top-down retest)

- The gray line of the channel

- The blue trend line

- The black line of the channel (even though it breached several times, but we’re all the same action even see it)

- Lilac long-term trend line

Of course, all these lines are in the pink channel, this is less important than the pink channel and its breakdown, or retest in one of the parties.

- Dark green, long-term bottom line of the channel (wrote about it in the past, forex forecast)

- Background of light green line of the channel (the same)

Forex EURUSD forecast for next week

Transactions on SALE:

1) it is talking about for weeks — a zone of resistance to 38.2% + light pink long-term trend line. Aims and stop-loss will not write, they all have in the last forecast.

2) Above this zone there are several levels on which we can consider the sale:

- The gray line of the upper channel

- Dark pink long-term trend line, as they also wrote in the last forecast

3) Hang from the top of a pink channel (although it is also dangerous in my opinion), stop-loss above the maxim of the channel — 1.3240 or better to have a light pink above the trend line, Profit: blue trend line, the black line of the channel bottom boundary of the channel rose 38.2% + level of the whole of the last upward movement with the minimum of the blue channel. If the price breaks, and this zone, the next target — the level of 61.8% from the last rising, the dark green line is a long-term channel.

4) Break, closing the candle (daily) and possibly retest the bottom-up approach the lower limit of pink channel. Stop-loss — rose above the channel (lower limit) + is an important Fibonacci level of the last downward move. Profit — the level of 61.8% Fibonacci of the last rising, etc., under paragraph (3 for sales).

4) Inside the pink lines — the sample and retest the blue tench trend from bottom to top, as well as retest the black channel.

Although I would have a channel inside the pink did nothing and waited for it to breakdown in one of the parties or hang on the internal borders of his own!

Again, just pay attention to the appropriateness of transactions, according to the accepted rules of your Money Management. And do not forget the week to watch the market and monitor the forex signals, as they become available.

  • Download Template for MetaTrader 4 forex trading forecast for this for EURUSD5_02_2012_eurusd.tpl

Original: Forex forecast EURUSD (6-10 February 2012)

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