Last week’s strong performance and spike higher forf the euro vs dollar was clearly evidenced on the weekly forex chart ending as a wide spread up candle which saw the euro vs dollar briefly breach the USD1.30 level before closing marginally below.  Given this strong performance on the weekly chart and with last week’s break [...]

Friday’s widespread down candle finally signalled the breakout we have been anticipating, closing the trading session below the psychological USD1.20 price point.  Friday’s price action for the euro vs dollar cannot be underestimated and this break below the base of the pennant pattern which has been forming in the past three weeks now indicates a [...]

The euro vs dollar continues to trade in a relatively narrow range as it attempts to find some traction in the USD1.3450 to USD1.3550 price region and in the last two weeks the lower level of this price band is now building a platform of support. Friday’s narrow spread up candle failed to break above [...]

A quiet end to the trading year for the eurodollar which ended in a consolidation phase between the USD1.43 and USD1.44 price region.  However, this sideways price action also included important bearish signals with two of the last three candles closing with significant and deep wicks to the upper body suggesting that the temporary rise [...]

The weekly chart for the euro vs dollar pair simply confirms what we already knew, namely a wide spread up bar which broke out of the sideways consolidation of the last few weeks and finished well above both the 9 and 14 week moving averages.  The conundrum for traders in the next period is whether [...]

As it is the start of a new week let’s begin by looking at the weekly chart for the euro vs dollar and last week’s wide spread up bar gives us an excellent trading signal for this week and I would suggest you buy now into the rising market.   The reason for the bullish move [...]

Another week, and little has changed from the previous one when we look at the weekly candle chart for the currency pair, and my hope that last week might provide some respite from the sideways movement has not been fulfilled! The interest rate changes and NFP figures on Friday have had little to no effect, [...]

As it is the start of a new week I thought I would take a look at the weekly candle chart for the euro vs dollar, to see if this tells us anything new about the longer term outlook for the currency pair, and the short answer is no! As you can see from the [...]

Last week’s candle on the euro dollar pair, has formed a hammer, which suggests that for our longer term trading we could see a rise in prices, but as always we must wait to see if this signal is confirmed by next week’s candle. For those of you new to candlestick analysis, the candle is [...]

The weekly chart provides little in the way of clues for this week’s trading I’m afraid, and really tells us what we already know, in that the euro vs dollar pair is currently trading sideways, and until we see some volatility in the currency pair, then my suggestion is to stay out until further notice. [...]