Deutsche TradingFX
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EURUSD Analysis: Keep Selling the rebound & Elliot Wave Forecast

A rebound made the euro on last friday on bad data from Non-farm payroll. That day the German DAX selloff more than 1,5% and european equity was very red, we think that was flow to fixed income. But the outflow from european equity is still strong, which helps to kick lower the euro.

We expect a rebound to the next fibonacci expansions levels: 1,3460 of the 2,61% and also could go to the 4,236% of 1,3516. This can happend on high volatility on thursday, when Draghi speaks.

Source: Trading Station using Marketscope 2.0,






Title: EUR/USD Intraday: the upside prevails.
Summary: Long positions above 1.3405 with targets @ 1.3445 & 1.3455 in extension.
Story: Pivot: 1.3405Our preference: Long positions above 1.3405 with targets @ 1.3445 & 1.3455 in extension.Alternative scenario: Below 1.3405 look for further downside with 1.339 & 1.3375 as targets.Comment: The pair is rebounding above its support and is shaping a bullish flag.Supports and resistances:
1.3421 Last
1.3375Copyright 1999 – 2014 TRADING CENTRALSOURCE:

Euro downtrend could last rest of the year

By Gregor Horvat



EUR/USD has turned lower last month from around 1.3700 where called a completed three wave rally on the smaller time frames. Three wave patterns are corrective within ongoing trend so we believe that EUR/USD will continue to fall in coming weeks, maybe even months back to 1.320 after recent accelerating bearish price action. With that said, it appears that EUR/USD has accomplished an ending diagonal near to 1.4000 a few months back, so fall could be quite strong in the rest of the year ahead that may bring prices back to the start of that ending diagonal; to 1.2700. Based on latest price data we see 1.3650 as critical zone; as long it will hold trend is down.

EUR/USD is trading sharply lower for the last 30 days, away from 1.3700. We can see clear swings without any overlaps, refereed as a impulse in progress. At the moment we are focused on an extended structure in wave (iii) that must be made by five subwaves. As such, we suspect that current rally from the low after the NFP report from Friday, represents a corrective pause within ongoing decline. Sooner or later price will revisit the lows and even hit 1.3330 area where we see 261.8% Fibonacci extension target for wave (iii). Resistance is at 1.3440 followed by 1.3460.