• EURUSD approaching double top reversal resistance, keep an eye out!

    EURUSD is making a strong pullback to our double top reversal resistance. Such setups usually occur where there are players pushing price up to get in on the good level. Our 1st level of resistance is at 1.2333 (Fibonacci retracement, horizontal overlap resistance, double top breakout level) and our major support is at 1.2083 (Fibonacci […]

  • EURUSD forming a double top reversal, watch for potential drop!

    EURUSD has formed a really nice double top reversal setup and this could drive price all the way down to 1.2083 major support (Fibonacci retracement, horizontal pullback support). Our 1st level of resistance is at 1.2333 (Fibonacci retracement, horizontal overlap resistance, double top breakout level) and we have to watch for a pullback to this […]

  • EURUSD reversing nicely, potential further drop!

    EURUSD has started to drop perfectly from our major resistance level. Now major resistance is changed to 1.2208 (Fibonacci retracement, horizontal overlap resistance, breakout level) and a further drop from this level could occur pushing price down to 1.2090 support (Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance below 97% and has […]

  • EURUSD bearish butterfly reversal formation!

    EURUSD is forming a strong bearish butterfly reversal formation with first major resistance at 1.2289 (ABC Fibonacci extension, bearish butterfly harmonic formation) and a strong reaction could occur at this level to drive price down towards 1.2090 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below 99% where a corresponding reaction […]

  • EURUSD forming a bearish bat formation, look for the reversal!

    EURUSD has started to form a really strong reversal signal at 1.2058 (Fibonacci retracement, bearish bat harmonic formation, swing high resistance, bearish divergence, bearish price action) and all these point towards a potential drop towards 1.2011 intermediate support (38.2% Fibonacci retracement, horizontal pullback support) before 1.1972 major support (61.8% Fibonacci retracement, horizontal pullback support). Stochastic […]

  • EURUSD lining up for a possible rally!

    EURUSD is seeing major support above 1.1835 (Fibonacci retracement, horizontal overlap support) and a strong bounce could occur above this level for it to rally towards 1.1940 resistance (Fibonacci extension, horizontal swing high resistance). Our next major level of support is at 1.1773 (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) sees ascending support hold […]

  • EURUSD approaching major support!

    We’re seeing major support at 1.1722 to 1.1710 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, 100% Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level. Our next level of major resistance is at 1.1842 (Fibonacci retracement, horizontal overlap resistance) while our next major support would be at 1.1675 (Fibonacci retracement, horizontal […]

  • Are the EUR/USD corrections on their way?

    Today the report on PMI activity in Germany and the Eurozone turned out to be worse than expected. Coupled with the sluggish inflation dynamics in the Euro zone and a rather illogical rise after the ECB meeting, this all suggests that the European currency is overvalued and is waiting for corrections.