After two days the euro consolidating positions returned to take another step forward in ...
... Define the upward trend over the last nine weeks, in a move that could not find the brake until the 1.35 area figures.
Short-term situation:
The upward trend that defines the euro against the dollar over the past two months is maintained at all existing and after passing short as potential turning points were the 1.3130 figure increases now could be extended to an area, 35 figures, whose recovery would reach 50% of the previous fall from 1.52.
However, as we have been pointing them in recent days that can be observed record nine weeks in the euro bulls warns us of the high existing overbought, which could end at any time causing a depletion buyer and the beginning of a corrective phase would serve to adjust some of the strong movement of appreciation.
For now, we are unable to detect any technical evidence that points downward in that direction and we believe there will not be worthy of note until we are able to see a weekly closing lows but lost the previous week (the last at 1.3050 ) or be able to see a bearish weekly candle line that suggests a ceiling on the climbs. The first thing has not happened for two months and the second will follow the evolution of the euro this week, especially if it reaches potential turning points such as the 1.35 figure.
Trend Situation:
The line of sailing month of July seems to speak of resurrection potential trend from an area of medium to long term as is the 1.15 / 1.25 figures. However, we can not talk of new technical evidence bullish until we are able to observe two week minimum on rising. For the latter it is necessary to correct the rise in recent weeks, that this correction does not deepen below 1.1874 and subsequently achieve the euro bulls break a weekly close the origin of this hypothetical correction. All this and appreciating what we will see in the coming weeks.
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... Define the upward trend over the last nine weeks, in a move that could not find the brake until the 1.35 area figures.
Short-term situation:
The upward trend that defines the euro against the dollar over the past two months is maintained at all existing and after passing short as potential turning points were the 1.3130 figure increases now could be extended to an area, 35 figures, whose recovery would reach 50% of the previous fall from 1.52.
However, as we have been pointing them in recent days that can be observed record nine weeks in the euro bulls warns us of the high existing overbought, which could end at any time causing a depletion buyer and the beginning of a corrective phase would serve to adjust some of the strong movement of appreciation.
For now, we are unable to detect any technical evidence that points downward in that direction and we believe there will not be worthy of note until we are able to see a weekly closing lows but lost the previous week (the last at 1.3050 ) or be able to see a bearish weekly candle line that suggests a ceiling on the climbs. The first thing has not happened for two months and the second will follow the evolution of the euro this week, especially if it reaches potential turning points such as the 1.35 figure.
Trend Situation:
The line of sailing month of July seems to speak of resurrection potential trend from an area of medium to long term as is the 1.15 / 1.25 figures. However, we can not talk of new technical evidence bullish until we are able to observe two week minimum on rising. For the latter it is necessary to correct the rise in recent weeks, that this correction does not deepen below 1.1874 and subsequently achieve the euro bulls break a weekly close the origin of this hypothetical correction. All this and appreciating what we will see in the coming weeks.
