EURUSD WEEKLY 9th - 13 Dec 2019

Daily chart

4-hrs chart 

EURUSD WEEKLY  9th - 13 Dec

EURUSD like 50% Retracement, let watch the trend movement to 50% and then watch out for bearish movement.

If trend remain bearish and the price keep dropping, drop your chart to 30mins or 15mins chart for bearish.

SELL AROUND 1.10745
SL   - 1.11197
TP 1 - 10324
TP 2 - 1.09927

NOTE:  TP 1 - 1.10324  Which is 61.8% on daily chart of low candle of Nov 29 and high  Dec 4, then drop your chat to lower time-frame to check if the market  turn bullish

If Bullish
BUY @ 1.10322
SL -  1.097181
TP -  1.124262

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EUR/USD Weekly Outlook
EURUSD Outlook | Written by ActionForex.com |


EUR/USD continued to stay in established range of 1.3443 last week as consolidations continued. Some more sideway trading could be seen initially this week and stronger recovery cannot be ruled out. But still, we'd expect upside to be limited by 1.3838/52 resistance zone and bring fall resumption. Break of 1.3443 should target 161.8% projection of 1.5143 to 1.4217 from 1.4578 at 1.3076 next.

In the bigger picture, three wave rise from 1.2329 is treated as consolidation to fall from 1.6039 only and should have completed at 1.5143 already. Fall from 1.5143 is tentatively treated as resumption of the whole down trend form 1.6039 and should target a new low below 1.2329. Break of 1.4217 support turned resistance is needed to invalidate this bearish view. Otherwise, we'd expect fall 1.5143 to continue even in case of strong rebound.

In the long term picture, long term up trend from 2000 low of 0.8223 has made an important top at 1.6039 in 2008. Subsequent price actions are so far viewed as a correction only, in form of three waves. First wave has completed at 1.2329 while secondly should have completed at 1.5143. Fall from 1.5143, as the third wave of correction, is in progress and should extend to 1.1639 support, and possibly further to 100% projection of 1.6039 to 1.2329 from 1.5143. Nevertheless, we'd expect strong support from 61.8% retracement of 0.8223 to 1.6039 at 1.1209 to conclude the correction and bring another long term up trend.

Pivot For Today : 25 February 2010

EURUSD

 Today Average Range:  140  pips

Market open at  1.3537.

PP: 1.3554

Resistant Level
Midpoint: 1.3581
R1: 1.3608
Midpoint: 1.3643
R2: 1.3677
Midpoint: 1.3739
R3: 1.3800

Support Level
Midpoint: 1.3520
S1: 1.3485
Midpoint: 1.3458
S2: 1.3431

Midpoint: 1.3370

S3: 1.3308

Watch Out for the News HERE ! TIME IN GMT

German Final GDP: Published on Wednesday at 7:0 GMT. The zone’s largest economy has been the locomotive for growth in the middle of 2009, but failed to grow in Q4. The stagnant economy hurts the Euro. This 0% growth is predicted to be confirmed. IF the German economy contracted in Q4, this will be a blow to the Euro.

 

The trigger for this indicator is 0.5. This means that if GDP comes out at 0.5 or higher, EUR/USD will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at -0.5 or more negative, EUR/USD will probably go down by 30 pips or more in the first 45 minutes of the report.

 

Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.       

Today's Calendar

Wed Feb 24 | Post by SaSo

 

12:50am     JPY             Trade Balance              

12:50am     JPY             CSPI y/y             

1:30am       AUD           Construction Work Done q/q                      

1:30am       AUD           Wage Price Index q/q                         

 8:00am      EUR           GfK German Consumer Climate                                    

 8:00am      EUR           German Final GDP q/q                               

10:00am     EUR           Italian Retail Sales m/m                  

10:25am     GBP            MPC Member Posen Speaks                                       

11:00am     EUR           Industrial New Orders m/m                                  

2:30pm       CAD           Corporate Profits q/q                                            

4:00pm       USD           Fed Chairman Bernanke Testifies                                         

4:00pm       USD           New Home Sales                               

4:00pm       USD           Treasury Sec Geithner Speaks                                     

4:30pm       USD           Crude Oil Inventories   

Pivot For Today : 24 February 2010

EURUSD

 

 Today Average Range:  162 pips

 

Market open at 1.3506.

PP: 1.3563

Resistant Level
Midpoint:            1.3598
R1:                       1.3632
Midpoint:            1.3695
R2:                       1.3758
Midpoint:            1.3792
R3:                       1.3827

Support Level
Midpoint:            1.3500
S1:                        1.3437
Midpoint:            1.3403
S2:                       1.3367
Midpoint:           1.3270
S3:                       1.3173