EUR/USD Technical Chart Analysis/ Patterns Euro US Dollar Day Trading Signals/ Setups Forex Market: EUR/USD Technical Analysis

Technical Chart Analysis | Legend

legend chart analysis signals trade setup

Technical Chart Analysis | Legend:

blue circles/ellipses: price reaction at support/ resistance S/R

green circles/ellipses: consolidation | continuation pattern-Flags-Pennants-Ledges

red circles/ellipses: timing setup (close at S/R and penetration with new candle)

red arrows: purely stop fishing without confirmation of S/R breach
orange arrows: consolidation price zone S/R
black circles/ellipses: see chart comments

Lines:

purple line-monthly S&R/ orange line-weekly S&R/ pink line-daily S&R/ red line-4-hour S&R/ blue line-1-hour S&R/ green line-5 min S&R/ brown line- neckline or gap

SMA's:

black dotted line- 200 SMA, purple line- 20 SMA, red line- 10 SMA

Pivot Points on Charts

[added later]

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Thursday, November 15, 2012

EUR/USD Technical Analysis | Euro US Dollar Chart patterns

EUR/USD Trading Signals | Euro US Dollar Chart Analysis

Daily Support/ Resistance levels | Stop running | Continuation chart patterns | Candlestick patterns | Breakout trading

EUR/USD Technical Chart Analysis

The EUR/USD started to move upward today, after yesterday's news shakeout at 7 p.m. GMT, which cleared the stops above the low of Sept. 10th at 1.2755 and then reversed to clear the stops below 1.2724.

Today's upward momentum might be the following of the daily hammer candlestick pattern on Tuesday.

The Euro moved higher with the triggering of continuation patterns (green circles/ellipses) and Breakout timing setups (red circles/ellipses) until market reached strong resistance at the 1.28 level. This resistance zone consists of the low of October 1st, the monthly S1, the 61.80 % fibonacci retracement on the 4 hour chart and the 38,20 % fibonacci retracement on the daily chart. Market reversed at the 1.28 level and started to move lower.

On the 5 min chart we see how market broke through the downward sloping green trendline at 2:15 p.m. (Breakout trading-prior candle closed at trendline) so that the consolidation/triangle got terminated. Market started to consolidate in a shape of a continuation pattern after the breakout of the triangle and price retested the daily R1, the high and the downward sloping trendline of the consolidation (resistance becomes support-successful retest). The Euro terminated the continuation pattern on the 5 min chart and market broke through yesterday's high with the beginning of the new hourly candle after the previous one closed strongly at resistance (yesterday's high-Breakout trading).

Recent main support and resistance levels have been the low of October 1st and September 10th and the high of last Tuesday. Yesterday's high (news spike) is also likely to play an important S/R role.