The Daily Wave Analysis Feb 14 2013

Daily Forex Technicals | Written by Admiral Markets | Feb 14 13 02:06 GMT

The Daily Wave Analysis

Currency pair USD/CHF

Presumably, the correctional wave (iv) of [a] is close to completion . If this assumption is correct, after its completion we can expect an upward price movement in line with the Impulse or Diagonal Triangle formation (v) of [a].

Currency pair EUR/USD

Presumably, the wedge A of (2) is forming . If this assumption is correct, in the course of the formation development we can expect a downward price movement.

Currency pair GBP/USD

Presumably, the Impulse [5] of c of (x) is forming . If this assumption is correct, in the course of the formation development we can expect a downward price movement.

Currency pair USD/JPY

Presumably, the Diagonal Triangle v of (v) of [iii] is forming . If this assumption is correct, in the course of the formation development we can expect an upward price movement

EUR/USD Daily Outlook Feb 14 2013

EURUSD Outlook | Written by ActionForex.com | Feb 14 13 06:14 GMT

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.3412; (P) 1.3465 (R1) 1.3506; More....

As noted before, the correction from 1.3710 might have completed at 1.3353 already. Further rise is mildly in favor to retest 1.3710 first. Break there will resume recent rally from 1.2042. Though, below 1.3353 would bring deeper fall to 55 days EMA (now at 1.3266) and possibly below before completing the correction.

In the bigger picture, fall from 1.4939 is treated as a falling leg inside the consolidation pattern that started at 1.6039 (2008 high) and has completed at 1.2042 already. Rise from 1.2042 is viewed as another leg inside the consolidation pattern for the moment. But we'll pay close attention to whether EUR/USD shows sign that it's developing into a long term up trend. Meanwhile, we'll now stay medium term bullish as long as 1.3 psychological level holds.

EUR/USD Steady Above 1.34, G20 Ahead

Daily Forex Technicals | Written by ZIFX.com | Feb 14 13 05:55 GMT

EUR/USD Steady Above 1.34, G20 Ahead

EUR/USD Open 1.3443 High 1.3520 Low 1.3425 Close 1.3445

On Wednesday Euro/Dollar traded within 95 pip range. The European currency depreciated from 1.3520 to 1.3425 yesterday, not matching the positive money flow sentiment at over +14%, closing the day at 1.3445. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.

On the 1 hour chart the upward channel is turning into range trading, while on the 3 hour chart the upward channel is on hold. Break above the nearest resistance and yesterday's top at 1.3520 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3425, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3310.

Today's focus is on France, Germany, Italy and EU17 GDP, and US Jobless claims, at 6:30, 7, 9, 10, and 13:30 GMT respectively.

Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.

Technical resistance levels: 1.3520 1.3633 1.3750
Technical support levels: 1.3425 1.3310 1.3187

EUR/USD Forecast February 14, 2013, Technical Analysis

The EUR/USD pair gained during the session on Wednesday, breaking above the 1.35 level again. However, by the end of the session the Euro was pushed below the 1.35 line in order to form a shooting star. The shooting star looks like one that signals the Euro is going to start failing at this point time, and as a result we believe the short term selling opportunity has presented itself. A break below the lows from the session on Wednesday is a sell signal, albeit for roughly 100 pips or so. We are not looking for some type of massive meltdown, simply a pullback as this pair cools off.

EUR/USD Forecast February 14, 2013, Technical Analysis

Credit : FX Empire Analyst - Christopher Lewis

EUR/USD Forecast February 13, 2012, Technical Analysis

EUR/USD fell during the session on Tuesday originally, but found enough support in order to bounce back in over the 1.3450 level. At the end of the session, that is roughly where we are trying to close, and it does look like a little bit of buying has come back into this market. After all, the move has been based upon a few choice words by the ECB, and not actually based upon any actions. Because of this, is very likely that we will see the market turned back around and start going higher, and as a result we are already long of this pair. We recognize of the 1.35 level will be resistance, but above that area the market should continue to accelerate to the upside.

EUR/USD Forecast February 13, 2012, Technical Analysis

Credit : FX Empire Analyst - Christopher Lewis

Trade Idea Wrap-up: EUR/USD – Sell at 1.3480

Candlesticks and Ichimoku Intraday | Written by Action Forex | Feb 13 13 16:24 GMT

EUR/USD – 1.3443

Most recent candlesticks pattern  : Shooting star

Trend                                                 : Near term down

Tenkan-Sen level              :1.3473
Kijun-Sen level                 :1.3468
Ichimoku cloud top              :1.3415
Ichimoku cloud bottom          :1.3410

New strategy  : 

Sell at 1.3480, Target: 1.3380, Stop: 1.3515

Position: -
Target:  -
Stop:-

Remark: Due to holidays, no update on 14-15 Feb, next update on Ichimoku and Candlestick intra-day trade ideas will be made on Monday 18 Feb 2013

Despite intra-day brief rise to 1.3520, the subsequent retreat from there formed a shooting star on the hourly chart (it is also quite likely a shooting star would also be formed on the daily chart), suggesting the rebound from this week’s low of 1.3326 has ended there and consolidation with downside bias is seen for test of the Ichimoku cloud (now at 1.3410-15), then towards yesterday’s low of 1.3365, however, a breach of indicated key support at 1.3350-55 is needed to signal decline from 1.3711 top has resumed and bring retest of 1.3326 first which is likely to hold from here.

In view of this, we are looking to sell euro on recovery. Only above said resistance at 1.3520 would abort and risk a stronger rebound to 1.3550-55 and possibly test of previous resistance at 1.3577, however, break of 1.3598-00 level is needed to turn outlook bullish.