EURUSD’s rise from the April 22, 2009 low of 1.2885 remains active as only a daily open an close below 1.3783 will complete this rise while the June 3, 2009 high of 1.4338 holds. Once prices have opened and closed below 1.3783, risk will then favor further price extension to the downside within a 1.3440-1.3783 consolidation zone before another attempt to the upside. Today’s 20 day MA comes in at 1.4005, with a daily open and close above the 20 day MA favoring further price extension initially targeting 1.4271. Weekly studes suggest price will move lower this week as 3 consecutive weeks of lower highs and lower lows suggest a correction should soon unfold. For the session ahead look to buy EURUSD while prices hold above 1.3880 and sell a break of 1.3880 for 1.3748 initial target.
EURUSD’s short term fall from the June 11, 2009 high of 1.4177 remains active as only a 2 hour open and close above 1.3912 will complete this fall while yesterday’s 1.3748 low holds, as prices will then move within a 1.3912-1.4013 consolidation zone before another attempt to the downside. Once prices have moved within the above mentioned zone , a sustained break of this zone will see further price extension in the direction of the break. Daily prices have closed below the 20 day MA currently at 1.4010 for 2 consecutive days, while a daily open and close below 1.3783 will see prices continue to move lower.
EURUSD’s rise from the April 22, 2009 low of 1.2885 remains active as only a daily open an close below 1.3783 will complete this rise while the June 3, 2009 high of 1.4338 holds. Once prices have opened and closed below 1.3783, risk increases for further price extension to the downside within a 1.3440-1.3783 consolidation zone before another attempt to the upside. Aditionally, the 20 day moving average comes in at 1.4003 at this writing as prices have not closed below the 20 day MA since April 24, 2009 and the daily chart is setting up for a potential sell confirmation possibly at today’s close. For the session ahead, look to sell EURUSD at 1.3947 with stop loss above 1.4003 for 1.3805 initial target.
GBPUSD’s short term rise from the June 8, 2009 low of 1.5801 remians active as only a daily open an close below 1.6307 will complete this rise at the June 11, 2009 high of 1.6620 with prices then continuing to move lower within a 1.6114-1.6307 consolidation zone before another attempt to the upside. As to the medium term rise from the April 22, 2009 low of 1.4396, this wave remains active as only a daily open an close below 1.5796 will complete this rise with prices then moving lower within a 1.5262-1.5796 consolidation zone before another attempt to the upside.
EURUSD broad outlook remains bid as the rise from the April 22, 2009 low of 1.2885 remains active with the June 6, 2009 high of 1.4338 as the next objective while ONLY a daily open and close below 1.3783 will complete this wave. For the session ahead, look to buy EURUSD within the 1.4032-1.4088 zone for 1.4338 objective followed by 1.4620.
GBPUSD remains bid with 1.6693 follwed by 1.6750 as the next objectives while ONLY a daily open and close below 1.5796 will complete the rise from the April 22, 2009 low of 1.4396. For the session ahead, look to buy GBPUSD within the 1.6472-1.6528 zone for 1.6693 objective followed by 1.6750.
EURUSD’s rise from the April 22, 2009 low of 1.2885 remains active as ONLY a daily open and close below 1.3783 will complete this rise while the June 3, 2009 high of 1.4338 caps. As to the short term rise from the May 28, 2009 low of 1.3792, this rise is complete at 1.4338, as a 1 hr open and close below 1.4001 confirms further downside with 1.3792 as the next objective. For the session ahead look to sell EURUSD ahead of 1.4000 for 1.3792 objective, or Buy EURUSD if prices open and close on an hourly basis above 1.4001 for 1.4137 target.
GBPUSD’s rise from the April 22, 2009 low of 1.4396 remains active as ONLY a daily open and close below 1.5796 will complete this rise while the June 3, 2009 high of 1.6662 holds, as prices will then continue to move lower within a 1.5262-1.5796 consolidation zone before another attempt to the upside. As to the fall from 1.6662, this wave remains active as a daily open and close above 1.6130 will complete this fall with prices then continuing to move higher. As to the fall from Friday’s 1.6241 high, this wave remains active as a daily close above 1.6054 favors further upside towards 1.6137. For the session ahead, look to sell GBPUSD between 1.6010-1.6054 for 1.5796 target.
EURUSD fall from the June 3, 2009 high of 1.4338 reached 1.4069 yesterday and remains in the the 1.4172-1.4235 intraday consolidation zone as a sustained break outside this zone will see further price extension in the direction of the break. As to the rise from the May 28, 2009 low of 1.3792, this rise remains active as ONLY a daily open and close below 1.4129 will complete this rise with prices then continuing to move lower within the 1.4001-1.4129 consolidation zone before another attempt to the upside.
GBPUSD has sustained below the previously sited 1.6161-1.6353 consolidation zone as risk for lower prices remains with the May 28, 2009 low of 1.5852 as the next objective. Look for prices to continue lower with a susatined break of 1.5852 favoring further downside risk towards 1.5796.
We will have a detailed outlook for the week ahead after today’s close.
EURUSD’s rise from the May 28, 2009 low of 1.3792 remains active with the December 18, 2008 high of 1.4718 as the next objective. Only a daily open and close below 1.4129 will complete this rise while yesterday’s 1.4338 high holds, as prices will then continue to move lower within a 1.4065-1.4129 consolidation zone before another attempt to the upside. As to yesterday’s intraday fall from 1.4338, this wave is complete at yesterday’s 1.4108 low with prices now within the 1.4196-1.4250 consolidation zone. Look for a sustained break of this zone to see further price extension in the direction of the break.
GBPUSD’s rise from the May 28, 2009 low of 1.5852 is complete at yesterday’s 1.6662 high as prices have moved within the 1.6161-1.6353 consolidation zone. In that prices are now within this zone, a sustained break of this zone will see further price extension in the direction of the break. The medium term rise from the April 22, 2009 low of 1.4396 remains active as ONLY a daily open and close below 1.5796 will complete this wave while yesterday’s 1.6662 high holds. As to yesterday’s fall from 1.6662, this wave remains active as only a 1 hour open and close above 1.6381 will complete this fall while today’s 1.6208 low holds. Once prices have moved within the 1.6381-1.6489 zone, look for a sustained break of this zone to see further price extension in the direction of the break.
EURUSD has reached our target with yesterday’s 1.4245 high with the December 18, 2008 high of 1.4718 as the next objective. EURUSD’s short term rise from the May 28, 2009 low of 1.3792 remains active as ONLY a daily open and close below 1.4072 will complete this rise while yesterday’s 1.4245 high holds. As to the rise from the May 18, 2009 low of 1.3423, this wave remains active as ONLY a daily open and close below 1.3931 will complete this rise with prices then continuing to move lower within a 1.3737-1.3931 consolidation zone before another attempt to the upside. For the session ahead, look to buy EURUSD ahead of 1.4072 for 1.4718 target.
GBPUSD has reached our 1.6084 and 1.6455 targets with 1.6711 and 1.6851 as the next objectives. As to the intraday rise from yesterday’s 1.6182 6:00 GMT low, this rise remains active as ONLY a 1 hour open and close below 1.6377 will complete this rise with prices then continuing to move lower within a 1.6302-1.6377 consolidation zone before another attempt to the upside. As to the short term rise from the May 28, 2009 low of 1.5852, this rise remains active as ONLY a daily open and close below 1.6251 will complete this rise while yesterday’s 1.6497 high holds, as prices will then continue to move lower within a 1.6098-1.6251 consolidation zone before another attempt to the upside. Fot the session ahead, look to buy GBPUSD within the 1.6302-1.6377 zone with stop loss below 1.6256 for 1.6711 as the next objective.
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