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FXTechstrategy Team

EURUSD: FXTechstrategy Team

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EURUSD: With EUR holding above its broken resistance zone at the 1.2692/1.2748 levels, further upside gain is likely. It now faces the risk of moving higher towards the 1.2839 level where its daily 200 ema is located. A breather may occur and turn the pair back lower at this level but if this fails to occur, expect the pair to strengthen further towards the 1.2900 level. Its daily RSI is bullish and pointing higher supporting this view. The alternative scenario will be for the pair to return to the 1.2692/1.2748 levels where a reversal of roles could occur. Further down, support lies at the 1.2442 level where a violation will expose the 1.2239 level. A clearance of here will set the stage for a move lower towards the 1.2132/17 levels. All in all, EUR continues to face upside recovery threats.

 

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EURUSD: We look for EUR to extend its gains though slightly hesitating. As long as it continues to trade and hold above the 1.2692/1.2748 levels, further upside gain is likely. It now faces the risk of moving higher towards the 1.2950 level. A breather may occur and turn the pair back lower at this level but if this fails to occur, expect the pair to strengthen further towards the 1.3000 level. Its daily RSI is bullish and pointing higher supporting this view. The alternative scenario will be for the pair to return to the 1.2692/1.2748 levels where a reversal of roles could occur. Further down, support lies at the 1.2442 level where a violation will expose the 1.2239 level. A clearance of here will set the stage for a move lower towards the 1.2132/17 levels. All in all, EUR continues to face upside recovery threats.

 

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EURUSD: Bullish, Eyes Further Upside.

 

EURUSD: With another fresh rally seeing EUR closing higher the past week, the risk is for the pair to strengthen further. This development now leaves the pair targeting the 1.3282 level where a violation will call for a move further higher towards its weekly ema at 1.3415 level. Its weekly RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.3000 level, followed by the 1.2950 level. A breather may occur and turn the pair back up but if this fails to occur, expect the pair to decline further towards the 1.2692/1.2748 levels where a reversal of roles could occur. Further down, support lies at the 1.2442 level. All in all, EUR continues to face upside threats.

 

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EURUSD: With EUR backing off higher level prices to close lower the past week, it remains susceptible. But as long as its present bear threats remain above the 1.2748 level, its broader short term uptrend remains intact. This could eventually see the pair return above the 1.3171 level where a violation will call for a run at the 1.3282 level. Above here will call for a move towards its weekly ema at 1.3415 level. Conversely, support lies at the 1.2800 level. A breather may occur and turn the pair back up but if this fails to occur, expect the pair to decline further towards the 1.2692/1.2748 levels where a reversal of roles could occur. Further down, support lies at the 1.2442 level. All in all, EUR continues to hold on to its short term upside bias though facing bear threats.

 

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EURUSD: Bears Extend Hold On The Downside.

 

EURUSD: A second consecutive week of declines saw the EUR even more vulnerable to the downside with eyes on the 1.2753 level. A clearance of here will open the door for a run at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair back off lower prices and target the upside. However, if this fails to happen Further declines will aim at the 1.2442 level. Its weekly RSI has turned lower supporting this view. On the other hand, the pair will have to return above the 1.3171 level to annul its present weakness and turn upside risk towards the 1.3282 level. Above here will call for a move higher towards its weekly ema at 1.3415 level. All in all, EUR continues to face bear threats.

 

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EURUSD: The pair still retains its corrective pullback risks as it remains vulnerable despite a two-day attempts on the upside. Support is seen at the 1.2824 level where a violation will call for a move further towards the 1.2755 level. We expect a cap to occur here and possibly turn the pair higher again. Conversely, although EUR continues to hold on to its broader medium term upside, it will have to return above the 1.3171 level to resume its short term uptrend. This will open the door for a run at the 1.3282 level where a violation will call for a move further higher towards its weekly ema at 1.3415 level. All in all, EUR continues to maintain its corrective tone.

 

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EURUSD: The pair rallied sharply to close higher on Thursday. However, we will have to see EUR return above the 1.3047 and the 1.3171 levels to prevent a return to the 1.2824 level. If above the 1.3171 level is traded, the 1.3282 level will be targeted where a violation will call for a move further higher towards its weekly ema at 1.3415 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 1.2824 level where a violation will call for a move further towards the 1.2755 level. We expect a cap to occur here and possibly turn the pair higher again. All in all, EUR continues to maintain its short term upside bias.

 

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EURUSD: With the pair reversing most of its two-week losses the past week, further upside pressure is now building up. This leaves EUR targeting the 1.3171 level, its Sept 17’2012 high with a turn above here calling for a move higher towards its weekly ema at 1.3415 level. Its weekly RSI points higher suggesting further strength. On the downside, the risk to this analysis will be a return to the 1.2824 level. Further down, support lies at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair back off lower prices and target the upside. However, if this fails to happen further declines will aim at the 1.2442 level. All in all, EUR looks to build on its past week gains.

 

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EURUSD: While the pair may be biased to the upside short term, it continues to face downside threats on corrective pullback. It is now targeting the 1.2824 level. This level is key as a break of here could push EUR deeper towards the 1.2755 level. We expect a cap to occur here and possibly turn the pair higher again. If broken, expect further declines to develop towards the 1.2625 level. Its daily RSI is supportive of this view. Alternatively, the pair will have to return above the 1.3047 and the 1.3171 levels to resume its short term uptrend. If this occurs, the 1.3282 level will be targeted where a violation will call for a move further higher towards its weekly ema at 1.3415 level. All in all, EUR faces further downside threats on correction.

 

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EURUSD: Although the pair closed marginally lower at the end of the week, it continues to hold on to its broader short term uptrend. This leaves EUR targeting the 1.3171 level, its Sept 17’2012 high with a turn above here calling for a move higher towards its weekly ema at 1.3415 level. Its weekly RSI points higher suggesting further strength. On the downside, the risk to this analysis will be a return to the 1.2824 level. Further down, support lies at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair back off lower prices and target the upside. However, if this fails to happen further declines will aim at the 1.2442 level. All in all, EUR looks to recapture the 1.3171 level and beyond.

 

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EURUSD: Although the pair is trying to bottom out, it will have to break and hold above the 1.3073 level to confirm its double bottom pattern now in place. This will open the door for a run at the 1.3171 levels. Above here will resume its broader uptrend towards the 1.3282 level where a violation will call for a move further higher towards its weekly ema at 1.3415 level. Conversely, except this scenario plays out, the risk of a return to the 1.2824 level cannot be ruled out. This level is key as a break and hold below here could push EUR deeper towards the 1.2755 level. We expect a cap to occur here and possibly turn the pair higher again. If broken, expect further declines to develop towards the 1.2625 level. All in all, EUR faces further upside threats.

 

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EURUSD: The pair broke and held above the 1.3073 level on Tuesday, opening the door for more upside offensive. This has set the stage for a run at the 1.3171 levels with a breach of here resuming its broader uptrend towards the 1.3282 level. A cut through here will call for a move further higher towards its weekly ema at 1.3415 level. Its daily RSI is bullish and pointing higher. Conversely, to annul its present bull offensive, a break and hold below the 1.2824 level must occur. This level is key as a break and hold below here could push EUR deeper towards the 1.2755 level. We expect a cap to occur here and possibly turn the pair higher again. If broken, expect further declines to develop towards the 1.2625 level. All in all, EUR faces further upside threats.

 

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EURUSD: While EUR may have closed marginally higher after reversing most of its earlier gains for the week, it continues to hold on to its short term uptrend bias. This leaves EUR targeting the 1.3171 level, its Sept 17’2012 high with a turn above here calling for a move higher towards its weekly ema at 1.3415 level. Its weekly RSI points higher suggesting further strength. On the downside, the risk to this analysis will be a return to the 1.2824 level. Further down, support lies at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair turn higher. However, if this fails to happen further declines will aim at the 1.2442 level. All in all, EUR looks to recapture the 1.3171 level and trigger further upside

 

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EURUSD: Although EUR turned lower off the 1.3138 level, it still faces its broader upside risk. While it maintains above the 1.2890/22 levels, we think the pair will maintain its upside bias. This suggests it could eventually recapture the 1.3171 level with a breach of here resuming its broader uptrend towards the 1.3282 level. A cut through here will call for a move further higher towards its weekly ema at 1.3415 level. Conversely, the pair will have to break and hold below the 1.2890/22 levels to prevent an eventual return to the 1.3171 level. This 1.2890/22 zone is key as a break and hold below here could put its broader upside bias on hold and bring deeper weakness towards the 1.2755 level. We expect a cap to occur here and possibly turn the pair higher again. If broken, expect further declines to develop towards the 1.2625 level. All in all, EUR faces further upside threats medium term.

 

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EURUSD: With EUR consolidating, there is risk of a return possibly to the 1.3171 level, its Sept 17’2012 high. A turn above here will call for a move higher towards its weekly ema at 1.3415 level. Its weekly RSI points higher suggesting further strength. On the downside, the risk to this analysis will be a return to the 1.2824 level. Further down, support lies at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair turn higher. However, if this fails to happen further declines will aim at the 1.2442 level. All in all, EUR looks to recapture the 1.3171 level on ending its consolidation.

 

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EURUSD: Turns Higher, Eyes Key Resistance.

 

EURUSD: Having continued to strengthen for a second day in a row, risk could be building up for a return to its key resistance at the 1.3171 level. This view remains valid unless a violation of the 1.2890/22 levels occurs. A breach of the 1.3171 level will resume its broader uptrend towards the 1.3282 level with a cut through here calling for a move further higher towards its weekly ema at 1.3415 level. Conversely, the pair will have to break and hold below the 1.2890/22 levels to put its medium term uptrend bias on hold. This if it occurs should bring deeper weakness towards the 1.2755 level. We expect a cap to occur here and possibly turn the pair higher again. But if broken, expect further declines to develop towards the 1.2625 level. All in all, EUR faces further upside threats medium term.

 

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EURUSD: With EUR weakening for a second week in a row, further declines is likely in the new week. However, it will have to break and hold below the 1.2824 level to convince the market of further declines. Further down, support lies at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair turn higher but if this fails to happen further declines will aim at the 1.2442 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 1.3018 level where a break will aim at the 1.3171 level, its Sept 17’2012 high. A turn above here will call for a move higher towards its weekly ema at 1.3415 level. All in all, EUR looks to recapture the 1.2824 level on further weakness.

 

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EURUSD: The pair has broken and held below its key support at the 1.2822 level. You will recall we have been watching that level for a long time. We see two things happening. One, EUR will have to hold below this support to validate its break and second, a failure to hold below here could mean further upside offensive could follow. If the former plays out, expect further declines towards the 1.2755 level. We expect a cap to occur here and possibly turn the pair higher again. But if broken, expect further declines to develop towards the 1.2625 level. Its daily RSI is supportive of this view. On the upside, resistance resides at the 1.2822 level where a reversal of roles could occur. However, if this fails, further upside should build up towards the 1.3000 followed by the 1.3171 level. A breach of here will resume its broader uptrend towards the 1.3282 level with a cut through here calling for a move further higher towards its weekly ema at 1.3415 level. All in all, EUR faces further downside threats.

 

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EURUSD: Under Bear Pressure, Sees Further Downside Momentum

 

EURUSD: With continued bearishness seen, EUR looks to extend further declines. This leaves the possibility of a return to the 1.2625 level. A breach of here will call for a run at the 1.2560 level. Its daily RSI is supportive of this view. On the upside, resistance resides at the 1.2755 level with a turn above here targeting the 1.2822 level. A reversal of roles could occur and turn the pair lower. However, if this fails, further upside should build up towards the 1.3000 followed by the 1.3171 level. A breach of here will resume its broader uptrend towards the 1.3282 level. All in all, EUR continues to face further downside threats.

 

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EURUSD: Although EUR extended its correction on Thursday, that gain is currently being reversed on a sell off. As long as it can hold below its support turned resistance at the 1.2822 level, our outlook remains lower short term. Support lies at the 1.2660/25 levels. A breach of here will call for a run at the 1.2560 level. Its daily RSI is supportive of this view. On the upside, resistance resides at the 1.2755 level with a turn above here targeting the 1.2822 level. A reversal of roles could occur and turn the pair lower. However, if this fails, further upside should build up towards the 1.3000 followed by the 1.3171 level. A breach of here will resume its broader uptrend towards the 1.3282 level. All in all, EUR continues to face further downside threats in short term despite recovery attempts.

 

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EURUSD: With the pair still remaining vulnerable to the downside, the risk is for EUR to recapture the 1.2660 level. As long as the pair continues to trade an d hold below the 1.2822 level, our downside view remains intact. A cut through the 1.2660 level will call for a run at the 1.2498 level where a break will call for a move lower towards the 1.2400 level. Its weekly RSI is bearish supporting this view. On the upside, resistance resides at the 1.2822 level, its support turned resistance. A reversal of roles is likely to occur here. However, if this fails, further upside should build up towards the 1.3000 followed by the 1.3171 level. A breach of here will resume its broader uptrend towards the 1.3282 level. All in all, EUR faces further downside threats below the 1.2822 level.

 

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EURUSD: With EUR closing higher to hold above its broken resistance at the 1.2822 level, further price extension risk is likely in the days ahead. This will leave the pair targeting its psycho level at the 1.3000 level. Further out, resistance resides at the 1.3171 level. Its daily RSI is bullish and pointing higher suggesting further upside. On the downside, support comes in at the 1.2822 level. Further down, support lies at the 1.2660/25 levels. A breach of here will call for a run at the 1.2560 level. All in all, EUR continues to retain its corrective recovery tone.

 

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EURUSD: Having continued to maintain its upside for a third week in a row, further strength is likely to occur in the new week. The immediate resistance resides at the 1.3000 level where a violation will call for a run at the 1.3171 level. A breach of here will resume its broader uptrend towards the 1.3282 level. Its weekly RSI is bullish and pointing higher supporting this view. On any pullback back from its present price levels, support lies at the 1.2822 level. Below here stands another support at the 1.2660 level with a cut through there calling for a run at the 1.2498 level where a break will aim at the 1.2400 level. All in all, EUR now faces further upside threats.

 

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EURUSD: Although EUR pulled back to close lower the past week, it continues to hold on to most of its corrective gains. This suggests that on ending its bear threats, a return to the 1.3125 level is likely. Above here will call for a run at the 1.3171 level with a breach of here resuming its broader uptrend towards the 1.3282 level. Its weekly RSI is bullish and pointing higher supporting this view. On any pullback back from its present price levels, support lies at the 1.2822 level. Below here stands another support at the 1.2660 level with a cut through there calling for a run at the 1.2498 level where a break will aim at the 1.2400 level. All in all, EUR still faces further upside threats though backing off higher prices.

 

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EURUSD: The With EUR on the offensive for a third day in a row, the risk for continued upside recovery. This has created scope for more upside towards the 1.3125/38 levels. This if violated will trigger its medium term uptrend with a push further higher towards the 1.3177 level. Further out, resistance resides at the 1.3200 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 1.2928 level where a breach will turn attention to the 1.2875 level. Further down, support lies at the 1.2660/25 levels. All in all, EUR continues to retain its broader upside bias.

 

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