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Another week, another bullish scenario for the usdjpy as I am still looking for the currency pair to make a contracting triangle in the and and this current move to the upside to be nothing but a zigzag. The zigzag should be the d wave, then a small correction for the e wave and 122 […]
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- EUR/USD Technical Strategy: Flat
- Support: 1.1254, 1.1123, 1.0992
- Resistance:1.1416, 1.1516, 1.1679
The Euro renewed its push downward against the US Dollar, issuing the largest daily decline since August 2010. A daily close below the 38.2% Fibonacci expansion at 1.1254 exposes the 50% level at 1.1123. Alternatively, a turn above the 23.6% Fib at 1.1416 opens the door for a challenge of the 14.6% threshold at 1.1516.
While entering short in line with our long-term outlook seems compelling, the appearance of positive RSI divergence warns of ebbing downside momentum. Furthermore, the upcoming Greek election represents high-profile volatility risk that may derail technical positioning. With that in mind, we will remain flat for now.
Bitcoin’s move up stalled around the $250 mark again. While yesterday’s surge stopped at $247, today’s BTC rally hit a high of $253.87. But BTC/USD couldn’t stay above $250 for long and quickly got sold to a low of $239.07. We are currently trading just off the lows at $242 on BTC-E. As usual, prices […]