Forex forecast for EURUSD currency pair for the week: 21 — 25 January 2013, drawn up on the rules of forex strategy of this site and the fundamentals of graphical analysis
- Recommend to the forecast — Broker Forex with MetaTrader 4
Analysis of the price movement of EURUSD over the last week:
1) The week closed with black candles with a long tail at the bottom.
2) Day Friday closed so as black candles, although the tail below the body a little more tail above it though.
The range of weekly price movement was all about 150 points (4-digit brokers), but last week identified the most important extrema corrective movement, and breakdowns that will talk about the future priorities for the movement.
Options transactions and resistance levels for the price located below the closing price of the week:
First of all, last week on Friday, we got the breakdown purple trend line which I have already partly written in the comments to the previous forecast, it tries to open the way to at least retest the orange channel, and the red line. Having broken the trend line, we see that the signal is applied to the transaction and on the pattern «Dragon».
Also do not forget about the bearish wave Wulff on H4-D1 — a sell signal at this point was confirmed, the wave formed quite well. Confirming sell signal as well received, I think everyone who bought the video course «Wolfe Waves» is a very well noticed!
Resistance levels are:
1) Red + orange + trendline retest the blue line of the channel, if the approach to them will happen on Monday and Tuesday. Approach from the top — it is certainly a point to stop prices and turn up or hang up at least temporarily! If the price breaks through the lines though, there is a daily close below them, then retest with a bottom-up one of the lines or all of them, consider options for sales!
2) The level of 61.8% Fibonacci of the upward movement with a minimum of 10 January 2013 + lower bound of the blue channel or blue background channel.
3) The level of 61.8% Fibonacci of the move up from the low of January 4, 2013 + the same channels.
4) Accumulation of signals: the lower limit of blue channel Channal + blue background — interested in is closing day on these 2 channels — above and retest — buy below and retest — sell.
5) The lower limit of the red channel — can retreat to at least retest punched blue background channel. Sample and retest the bottom — consider options for further sales.
6) Orange line trend.
7) A black line channel long-term.
6-7 points are not dealt with in detail, as they are described in the past forex forecast for EURUSD.
Variants of the resistance to movement of the price above the closing price of the week:
1) Price broke through the gray and purple trend line, but still quite possible retest them, especially at this level is a level of 61.8% Fibonacci of the downward movement down. Retest — a signal to sell.
2) If the price after the retest did not move down, and the green trend line breaks up or + purple and retest is their top-down, then it will be a buy signal. Especially if the price goes above the trend line and the orange day closes above these lines previously.
3) Level 50% Fibonacci cluster of blue + Fibonacci extensions upper limit of the blue channel background — it is certainly a signal to sell, or at least a small retreat. If after that there is a breakdown of these levels, a daily close above the channel and retest it as a top-down — a signal to buy!
4) Brown trend line — about her, just said in the past forex forecast. So I will not dwell at length.
5) The upper limit of the orange channel + level of 61.8% Fibonacci.
That news forex forecast euro-dollar …
- Download a template for MetaTrader 4 for EURUSD — 20_01_2013_eurusd.tpl
