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The medium-term uptrend in the EURUSD pair is at risk and the last week ended up with the strong bearish movement of the pair. The recent noise in the market has been furthermore intensified with the U.S interest rate hike decision. According to the economic researchers, there is only 6.7% of chance of rate hike in the month of October. But investors are in fear since they know 6.7% probability is not enough for the FED members to go in favor of the rate hike in this month. The upcoming presidential election is also giving fuel to prevailing chaos in the forex trading market. ThoughRead More →

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The medium-term uptrend in the EURUSD pair is still intact in the daily chart. Currently, the price is trading near the 38.2% Fibonacci retracement level where the pair might find some for another upward rally. Previously the pair has found some solid support near the 1.12000 level and traders are expecting this level to hold. EURUSD daily chart analysisFigure: EURUSD daily chart technical analysis The initial upward rally in the EURUSD pair starting from 1.0520 level tends to complete its upward momentum after hitting the high 1.1620 level on 2nd may 2016.From that level, the pair faced a significant amount of resistance and ultimately droppedRead More →

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The EURUSD is among the most traded currency pair in the world. It actually represents the two world’s largest economies (Europe and the United States of America). The Euro pound was invented to enable the cross-border trade of the European Union trading partners. From the time it was invented in 1999, this currency pair has faced a lot of volatility. The various important past levels on the trading chart to watch out for The first is the 1.1535 which is a monthly support level. This can be noted if you contract the chart to the monthly timeframe. The level is very evident in May 2016 and alsoRead More →

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The medium-term uptrend in the EURUSD pair has been breached by the sharp fall of the price on 23 June 2016.After hitting a low of 1.09132 prices has correct towards the level 1.13648 level. The EURUSD pair has been suffering from indecision since both the currencies is facing hardship in their economic performance. The fast recovery of the pair has been triggered by the recent bad data of US unemployment claim and average hourly income. Investors are waiting patiently for the FOMC meeting minute since there is 20% chance of interest rate hike in the month of September. The FED was strongly determined with theRead More →

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The medium-term uptrend is the EURUSD pair is still intact after forming the initial bottom towards the 1.05223 level, low of 3rd December 2015.The pair has managed to form nice higher high associated with lower lows after hitting the low of 1.05223 to form the medium term uptrend against the long-term prevailing downtrend. On 3rd may 2016 the pair has hit a significant key resistance level 1.16163 in the daily chart and started to move downward in favor of the long-term bearish trend. The bearish movement of the pair formed a nice descending channel pattern in the EURUSD pair indicating fresh selling pressure in theRead More →