Tuesday, March 26, 2013

EURUSD Is Bearish Again After A “Gap Reversal” Pattern



EURUSD fell sharply yesterday after the prices filled the gap from a week back around 1.3050. In fact, pair turned lower after only three wave bounce from 1.2842 which was a clear bearish sign for the pair once prices moved close to lower support line of a corrective channel. As such, EURUSD is back on a bearish track so looking for lower levels makes sense. In fact, market has room for much deeper levels if we consider that pair could be at the start of an impulsive back wave 3 that is part of a wave 5). Reversal zone for current minor pull-back comes in around 1.2900-1.2920 where broken channel line may act as a resistance.


USDCHF Technical Analysis - Sell at 0.9955

USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...