EUR/USD Remain in Bearish Bias

EUR/USD Remain in Bearish Bias
Posted on July 19, 2011 by Ukrit Sangdee
Posted in Technical Updates Tagged , , ,

Indicators :

- RSI Period 14 with 30 level as oversold and 70 level as overbought.

- The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.

- Gann’s Price&Timing Study.

- Simple Moving Average 50 Period (Blue), 100 Period (Red) and 200 Period (Green) on the chart.

  • The Euro recovery from New York session last night, failed break above 50SMA for the moment cross below 100SMA as well as the Equidistant channel resistance.
EURUSD 1H July 19, 2011

1H Chart

  • By the Price&Timing, there’re below 1X1 angel’s Gann the same as my latest EUR/USD posted here. We have 1.4116 & 1.4126 as Short-Term resistance, below these we will saw the falling to 1.3837 level as my latest espected.
  • RSI testing 60 level as the bearish mode resistance as well.

 

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  • http://www.efxtraders.com Ukrit Sangdee

    The market broke above 1.4126, now newer forecast up to 1.4187 level. However, here testing 200SMA could be bearish direction if broke below.

    [img]http://www.efxtraders.com/wp-content/uploads/2011/07/EURUSD Update July 19, 2011.png[/img]

  • http://www.efxtraders.com Ukrit Sangdee

    The market broke below 1.42 level so, let take a look at 1.4080 level.
     

    [img]http://www.efxtraders.com/wp-content/uploads/2011/07/EURUSD 15M July 20, 2011.png[/img]

  • http://www.efxtraders.com Ukrit Sangdee

    The market failed to broke below support trendline, I expect that EUR/USD remain in bearish. I now also add the Sell position as well.

    [img]http://www.efxtraders.com/wp-content/uploads/2011/07/EURUSD 1H July 20, 2011-1.png[/img]

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