EURUSD Weekly Forex forecast: 18 — 22 February 2013, based on the rules of graphic strategies forex, graphical analysis
Policy brief closing weeks of EURUSD:
1) Week closed after all the black candle with a small body and a tail on top of pancakes — presumably spark further downward movement.
2) Day Friday closed just a black candle with a small body, but still with a long tail bottom, so kickbacks up is still possible.
Sales are therefore priorities, but recoils upwards not be excluded. Since the price is in the corrective movement and aims to move up enough, just like the price down as there is to fall, but the trend is still upward to D1, the H1 has the makings to change it to descending.
Options resistance levels located below the closing price of the week:
1) Lilac trendline — retest its top-down — a signal to keep going up. But for sure it is better to wait for the closing of the sliding door stop candle purple line.
2) Price Friday strayed up from the level of 38.2% Fibonacci green dotted (with a minimum of upward movement after the retest orange channel) + Violet Fibonacci 23.6% (with a minimum of the total upward movement in D1-W1), but none however the price still can rewrite or at least try to defend from this level to the blue trend line. This line is considered sufficiently important at this point, so as to its interest and closing days of the week! The same with this line can match the lower green channel line.
If the price breaks the still blue trendline day closes below it, is retest the bottom-up — a sell signal?
3) 61.8% Fibonacci of blue dotted with a minimum of 4 January 2013. Price of it at least can fight back to retest the blue trend line. With this line also can match the light brown or green channel line, then hang up the most probable.
4) Red line channels — I rebuilt it and approach to no — hang quite possible as it is the target of the movement in the channel and approach will be the 4th. The breakdown of the same, closing H4-D1 below and retest — a sell signal, the presence of additional signals, such as Fibonacci and so.
5) Orange Line channel bottom — it is just as important enough line from just upstream from the minimum on the bottom line of the orange channel, thus going to the no — signal to hang up the most likely (since it is the third touch line). Just as interested in closing days and weeks regarding it. The signal is amplified in the presence of damping and the red trend line.
Nevertheless, the sample is also possible, and it can not be ruled out, but the decision to sell, waiting for the closing of the day at least, on this line. If there is a retest of its bottom-up — this is an additional signal to enter the market.
6) The level of 38.2% Fibonacci Violet — hang up the most probable.
Next resistance levels do not view as to overcome these, I think the price of the week will not be enough.
Variants of the resistance, located above the close of the week:
1) retest pink channel is particularly interested closure H1-H4 candle after the retest. Lights out at least down time is quite possible, as it is the first retest of the bottom-up after the break. Just interested in the closure of the day relative to the channel.
If there is a breakdown up + retest down — a signal to buy.
2) The red upper channel line — this is the third approach to it, so it is quite possible hang down at least temporarily, especially if the line will coincide with the level of 38.2% or 61.8% Fibonacci, with a maximum of 1.320
The breakdown of the channel up + retest — a buy signal.
3) Light brown line channel is less important than the red, but nevertheless it is a goal to move in the same channel, hence the approach to the line — release is possible. Especially if it matches any of the Fibonacci Levels
4) The green line channel — it’s also the target line, and by and large are interested in the breakdown of her up and retest for the transactions for the purchase or retreat from it, and the breakdown of brown line down the channel and retest — for transactions on sale.
5) Gray Line Canal — the line from which the same is possible rebound when approaching the bottom. Especially likely to rebound, if it matches the level of 50% or 61.8% Fibonacci green. Sample and retest top-down from the inside — a signal for future purchases.
6) The blue line is the channel — at retest its bottom — hang down most likely, just interested on its closing day. If there is a break up and retest — a buy signal.
7) The level of 1.3832 — a level of 61.8% Fibonacci of the blue from all the downward movement down — the level is quite important, so it first need to consider options for profit and find sell signals.
At this point, it is all the forex EURUSD forecast for next week.
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