Forex Analytics from FXBazooka

[volatile41]

I will be posting analytics from fxbazooka here.

Hope you will find it helpful!

Happy Trading!

 

[volatile41]

EUR/USD at important support
EUR/USD fell to the support area of $1.3685 (50% of the decline from December to January, short-term support line and lower Bollinger band at H4).

Euro tumbled on the disappointing PMI figures signaling that the euro zone’s recovery isn’t doing that well. Investors might reconsider speculation about the ECB easing policy.

Still the pair’s above the daily Ichimoku Cloud. MACD is in the positive area. The bears have to break below $1.3685 to achieve more declines. However, if the bulls fail to break above $1.3740, we’ll consider joining the sellers.

For the rest of the week the pair will be driven by US data. Further support lies at $1.3670, $1.3650, $1.3635 and $1.3620 (100-day MA). Resistance is at $1.3730/40 and $1.3780.

 

[volatile41]

EUR/USD: Ichimoku analysis (Feb. 21)
Daily. For the third time this year the bulls tested levels above the $1.3700 resistance. It happened in the beginning of past week, on Monday. As a result the bulls used an opportunity to restore the currency pair to the next important level of $1.3780, which stood and made the prices turn in the opposite direction. The situation on the daily timeframe is still ambiguous: the golden cross (C) is active and the Cloud has bearish nature. The pair may decline to Tenkan-sen and Senkou Span A.

H4. At H4 the Cloud has a fairly wide range indicating the serious mood of the bulls. However, after forming highs the pair decreased below the short-term support lines, while Tenkan and Kijun formed a dead cross. We are now seeing a corrective decline. The nearest strong support levels are at $1.3700 and $1.3670.