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EURUSD looks set to continue in a range


Weekly Chart
EURUSD has embarked on a steep downtrend since early 2014, as the Greece crisis evolved (mainly in 2014) and talks of the Fed planning for its first rate hike (in 2015) has transpired. In the event that a deep retracement occurs in the near future, 1.2040 acts as a major magnet/support turned resistance.
Daily Chart
Not too much to note on the daily chart other than the fact that we are most likely in a range. The boundaries of the range are 1.1440 on the upside and 1.0470 on the b…
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EURAUD still within bears' control


Weekly chart:
The decline from 2008 has such a huge impact on the EURAUD, that we are still trading at critical levels of the down move in 2015. The inverse Head and Shoulders has met its objective and more as the market now trades around the 38.2% of the huge 2008 decline.
Daily Chart:
Zooming into the daily chart, we see that the market has already found strong selling pressure on the 38.2% retracement mark once in Dec 2014. There are signs that the market is again facing strong selling a…
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