EURUSD (FIBER) IN WEEKLY CHART 27/02/15 (AFTER UGLY SKETCH) FOLLOW THE CLOUDS FOR YOUR NEXT TREND IN RALLIES..

EURUSD (FIBER) 27/02/15 ----IN 6 YEAR DOWNTREND SINCE 2008 FROM 7 JANUARY UNTIL NOW IN ZIG ZAG PATTERN.

MY UGLY CHART..IN 4 HOUR TIME FRAME EURUSD (FIBER) 27/02/15

INFO FOR FRIDAY 27/02/15

TODAY NO BUYING AND SELLING INDICATION FOR FRIDAY..CAREFUL OF SHORT SQUEEZE OR PROFIT TAKING DURING LONDON CLOSE..HAPPY TRADING..TGIF

OVERALL TRENDLINE IN EURUSD (FIBER) 27/02/15

• Short term: Up, as long as the price is above 1.1096.
• Medium term: Up, as long as the price is above 1.1096.
• Long term: Up, as long as the price is above 1.1096.

RESISTANCE TRENDLINE IN EURUSD (FIBER) 27/02/15

• 1.1240: micro term 28.6% for the falling move from yesterday’s high 1.1379 to the same day’s 1-month low 1.1184.
• 1.1258: micro term Fibonacci 38.2% for the falling move from yesterday’s high 1.1379 to the same day’s 1-month low 1.1184.
• 1.1282: micro term Fibonacci 50% for the falling move from yesterday’s high 1.1379 to the same day’s 1-month low 1.1184.
• 1.1305: micro term Fibonacci 61.8% for the falling move from yesterday’s high 1.1379 to the same day’s 1-month low 1.1184, which is also very close to the bottom of the previous intraday falling channel which can be drawn using Wednesday’s & Thursday’s highs.
• 1.1323: micro term 71.4% for the falling move from yesterday’s high 1.1379 to the same day’s 1-month low 1.1184.
• 1.1350: micro term 85.7% for the falling move from yesterday’s high 1.1379 to the same day’s 1-month low 1.1184, which is also very close to the falling trend line from Wednesday’s high.
• 1.1400: the falling trend line from Feb 3rd top, which is the top of a very elegant 4-hour channel (illustrated on the attached chart).
• 1.1450: Feb 19th daily high.
• 1.1499: Feb 5th daily high.
• 1.1534: Feb 3rd 13-day high.
• 1.1567: Jan 15th daily low.
• 1.1596: 85.7% retracement level, calculated for the falling move from Jan 21st high 1.1679 to Jan 26th 11-year low & probable termination point of wave (c) 1.1097.
• 1.1639: Jan 19th daily high
• 1.1679: Jan 21st daily high.
• 1.1727: Jan 14th low.

SUPPORT TRENDLINE IN EURUSD (FIBER) 27/02/15

• 1.1184: yesterday's 1-month low.
• 1.1159: 85.7% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1096: the equality target, where wave (c) of the supposed second three, equals wave (a) of the same pattern. This level was tested with unbelievable accuracy when the market opened this week, as the price bottomed at an 11-year low one single pip above it, before rising more than 430 pips!
• 1.1046: a weekly low from Sep 2003.
• 1.0998: a weekly high from Aug 2003.
• 1.0935: a weekly high from Feb 2003.
• 1.0826: the cyclical Dow 66.7% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: a weekly low from Aug 2003.
• 1.0454: the cyclical 71.4% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.

EURUSD (FIBER) LATEST SCENARIO 27/02/15

My friends here,the Euro broke an important support when it broke 1.1296 yesterday. The subsequent drop managed to pull the single currency to a 1-month low at 1.1184. If we take a lot at the attached 4-hour chart, we can see that this low is actually very close to the falling channel, which helps us assuming it is just a corrective drop. In my previous analysis I have explained why the 11-year low seen in January might be a very important long term bottom, and finding a bottom inside this falling channel helps this argument a little. However, if this is the case, the Euro should start proving that yesterday’s low was an important bottom.

First resistance is provided by level at 1.1240, this is followed by 1.1258, but important levels start to appear at 1.1282. Levels starting here are more important and harder to overcome, but if the bottoming theory is correct, they should be broken, even if that does not happen at first attempt. The other 2 levels making the “hard” levels are 1.1305 & 1.1323. Overcoming 1.1305 is an important step in proving that yesterday’s low will hold for a very long time, but the most important step in that direction is probably overcoming 1.1350, and of course achieving a positive daily close for today, which is very important for the bullish outlook. The first target for breaking 1.1350 would be the important 1.1400 ahead of 1.1499.

On the other hand, a break below yesterday’s low will put the bullish outlook under pressure, but this outlook will become under serious pressure if the bears can pull the price lower below what is now a key support at 1.1159. A break below this level will make the possibility of a new 11-year low much more probable, and another test of 1.1097 will become highly probable. If the price is really searching for a new 11-year low, potential targets for this search include 1.1046, 1.0998, and 1.0935 & an important long term Dow level at 1.0826.

EURUSD AFTER BROKEN CHANNEL 26/02/15

FINALLY MY SYMMETRICAL LEVEL IN EURUSD (FIBER) 4 HOUR CHART ALREADY BROKEN.

BUYING AND SELLING INDICATION IN XAUUSD (GOLD) 26/02/15

1st Option

Buy 1210.9
Stop 1202.2
Target / Limit 1258.7

2nd Option

Buy 1220.3
Stop 1211.9
Target / Limit 1258.7

Sell 1202.2
Stop 1210.9
Target / Limit 1152.2

OVERALL TRENDLINE IN XAUUSD(GOLD) 26/02/15

• Short term: Up, as long as we are above 1199.0.
• Medium term: Down, as long as we are below 1263.1.
• Long term: Down, as long as we are below 1618.7.

RESISTANCE TRENDLINE IN XAUUSD (GOLD) 26/02/15

• 1215.4: Friday’s high.
• 1223.0: Thursday’s daily high.
• 1227.2: Fibonacci 38.2% for the drop from Feb 3rd high 1285.8 to Tuesday's 7-week low 1190.6.
• 1231.6: 42.9% for the drop from Feb 3rd high 1285.8 to Tuesday's 7-week low 1190.6.
• 1238.4: Fibonacci 50% for the drop from Feb 3rd high 1285.8 to Tuesday's 7-week low 1190.6.
• 1245.1: 57.1% for the drop from Feb 3rd high 1285.8 to Tuesday's 7-week low 1190.6.
• 1249.5: Fibonacci 61.8% for the drop from Feb 3rd high 1285.8 to Tuesday's 7-week low 1190.6.

SUPPORT TRENDLINE XAUUSD (GOLD) 26/02/15

• 1212.7: Fibonacci 38.2% retracement, for the rising move from yesterday’s low & Fibonacci bottom 1201.1 to today’s current high 1219.9.
• 1210.5: an important support which combines the rising trend line from Tuesday’s low, with the Fibonacci 50% retracement, for the rising move from yesterday’s low & Fibonacci bottom 1201.1 to today’s current high 1219.9.
• 1208.3: Fibonacci 61.8% retracement, for the rising move from yesterday’s low & Fibonacci bottom 1201.1 to today’s current high 1219.9.
• 1206.5: 71.4% retracement, for the rising move from yesterday’s low & Fibonacci bottom 1201.1 to today’s current high 1219.9.
• 1205.3: micro term Fibonacci 50% retracement, for the rising move from Tuesday’s low 1190.6 to today’s current high 1219.9.
• 1201.8: micro term Fibonacci 61.8% retracement, for the rising move from Tuesday’s low 1190.6 to today’s current high 1219.9.
• 1199.0: micro term 71.4% retracement, for the rising move from Tuesday’s low 1190.6 to today’s current high 1219.9.
• 1194.8: micro term 85.7% retracement, for the rising move from Tuesday’s low 1190.6 to today’s current high 1219.9.
• 1190.6: Tuesday’s daily low, which was a 7-week low.
• 1188.0: medium term 85.7% retracement level, calculated for the rising move from Jan 2nd major bottom 1168.0 to Jan 22nd 5-month high 1307.6.
• 1183.1: Oct 5th daily low & short term bottom.
• 1175.0: Nov 18th daily low & short term bottom.
• 1168.0: Jan 2nd daily low & short term bottom. This is the lowest price seen this year so far.
• 1161.2/6: a small support area built between Oct 31st & Nov 3rd daily lows.
• 1153.6: Nov 12th daily low.
• 1146.7: Nov 30th daily low & short term bottom.

XAUUSD (GOLD) LATEST SCENARIO AND CHART 26/02/15

Now for gold traders,..as expected, gold found support almost exactly at the Fibonacci 50% level (where yesterday’s second buy signal was placed), then started rising strongly. The precious metal bottomed at 1201.1, which is only 2 pips below the Fibonacci level, then skyrocketed to a current daily high of 1219.9.

This expected move takes closer to last Thursday’s high 1223.0. A break above this level would be a good step towards confirming that we have seen an important bottom at 1190.6, which is not very far from our projected bottom 1188.0. A break above today’s current high 1218.1 would probably push the price towards 1223.0, and if we break this level we will be on the way towards the first short term Fibonacci level at 1227.2. This level is followed by other important resistance levels at 1231.6 & 1238.4. If the price reaches this level is specific, and starts showing signs of weakness, this good run may be over, but if we break above it, then we should get ready to see the price testing 2 important levels at 1245.1 & 1249.5.

On the support side, first we have 1210.5. Any dips that do not break below this level do not harm the short term bullish outlook. In fact, approaching this level may provide a good chance to go long. However, if the price breaks below this level, we should expect it to drop towards 1206.5 first, and if this level gives way we could be very much on the way towards at least one of the micro term retracement levels at 1205.3, 1201.8 & 1199.0. As long as the price is above this last level, the overall picture of a bottom very close to 1188.0 then a significant rising move will continue to be our favorite. But if we break below this level, although it is not expected, another trend low will become probable. The spotlight will be back to 1188.0, which I still believe is the most important support in this area. As said in yesterday’s report, gold could find support very close to 1188.0 then start rising again, and it looks like this is still a decent possibility today. But in case the price breaks below the important 1188.0 things will worsen even more, as the bears will be expected to target 1183.1, 1175.6 & the major January bottom at 1168.0. If the bears continue to push lower, and break below 1168.0, we should expect the price to test the 1161.2/6 area ahead of 1153.6 & 1146.7.

BUYING AND SELLING INDICATION IN GBPUSD (CABLE) 26/02/15

Buy 1.5555
Stop 1.5482
Target / Limit 1.5755

Sell 1.5482
Stop 1.5555
Target / Limit 1.5282

OVERALL TRENDLINE IN GBPUSD (CABLE) 26/02/15

• Short term: Up, as long as we are above 1.5491.
• Medium term: Up, as long as we are above 1.5123.
• Long term: Down, as long as we are below 1.7191.

RESISTANCE TRENDLINE IN GBPUSD (CABLE) 26/02/15

• 1.5552: medium term Fibonacci 38.2% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951. This level was tested with 100% accuracy during the Asian session, when the price topped exactly at 1.5552.
• 1.5587: Dec 31st daily low.
• 1.5625: medium term 42.9% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5682: Dec 11th daily low.
• 1.5738: medium term Fibonacci 50% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5807: long term Fibonacci 61.8% retracement level, calculated for the falling move from July 6-year high 1.7191 to Jan 23rd’s 19-month low 1.4951.

SUPPORT TRENDLINE IN GBPUSD (CABLE) 26/02/15

• 1.5491/1.5510: the Fibonacci 50% & 71.4% area for the rising move from yesterday's European session low 1.5467 to today's Asian session 7-week high 1.5552.
• 1.5468: micro term Fibonacci 38.2% retracement, calculated for the rising move from Monday’s low & bottom 1.5332 to today's 7-week high 1.5552.
• 1.5442: micro term Fibonacci 50% retracement, calculated for the rising move from Monday’s low & bottom 1.5332 to today's 7-week high 1.5552.
• 1.5416: micro term Fibonacci 61.8% retracement, calculated for the rising move from Monday’s low & bottom 1.5332 to today's 7-week high 1.5552.
• 1.5395: micro term 71.4% retracement, calculated for the rising move from Monday’s low & bottom 1.5332 to today's 7-week high 1.5552.
• 1.5380: short term 28.6% retracement level , calculated for the whole rising move from Jan 23rd 19-month low 1.4951 to today's 7-week high 1.5552.
• 1.5322: short term Fibonacci 38.2% retracement level , calculated for the whole rising move from Jan 23rd 19-month low 1.4951 to today's 7-week high 1.5552.
• 1.5294: short term 42.9% retracement level , calculated for the whole rising move from Jan 23rd 19-month low 1.4951 to today's 7-week high 1.5552.
• 1.5252: short term Fibonacci 50% retracement level , calculated for the whole rising move from Jan 23rd 19-month low 1.4951 to today's 7-week high 1.5552.
• 1.5209: short term 57.1% retracement level , calculated for the whole rising move from Jan 23rd 19-month low 1.4951 to today's 7-week high 1.5552.
• 1.5181: short term Fibonacci 61.8% retracement level , calculated for the whole rising move from Jan 23rd 19-month low 1.4951 to today's 7-week high 1.5552.

GBPUSD (CABLE) CHART 26/02/15

GBPUSD (CABLE) LATEST SCENARIO 26/02/15

For cable fan, here is the most exciting thing seen in the past 24 hours on this front was topping at a new 7-week high during the Asian session. Reaching 1.5552 was a triumph for our Fibonacci analysis since this is the first medium term Fibonacci retracement level, exactly & down to the pip! This move higher absolutely goes well with breaking above the top of the daily channel. The Cable is expected to achieve more short term & medium term gains. However, topping at a Fibonacci level, is a reason to be vigilant.

The first resistance is definitely the medium term Fibonacci 38.2% retracement at 1.5552. A break above this level will boost the outlook, and shake the fear of a Fibonacci top off. This level is followed by 1.5587, and above here we start to approach more interesting levels include another level at 1.5625, and the ideal Fibonacci level at 1.5738. A break above 1.5552 is expected to further boost the outlook, while a top very close to it is not very good for the bulls.

Having said that, we can never rule out the possibility of a falling correction in the shadow of recent gains, especially with the stopping this accurate at a Fibonacci level. First support is the area between the Fibonacci 50% & 71.4% for the small rising move from yesterday’s low European session low (1.5467) to the 7-week high & probable Fibonacci top 1.5552. This area starts at 1.5510 and ends at 1.5491. We should treat these 2 levels (and the Fibo 61.8% in between at 1.5499) as one area. Finding support anywhere within this area or just out of its borders would be a positive sign. On the other hand, a clean & clear break of 1.5491 would be a weakness sign. A break below this level would give the bears a chance to pull the price towards the micro term retracements at 1.5468, 1.5442, 1.5416 & 1.5395. Testing at least one of those levels will become highly probably once the price breaks below 1.5491, but breaking below all of them is not expected for today. In case the bears show surprising strength & break below 1.5391, the drop will be expected to continue moving towards the short term retracement levels which start at 1.5322, and include other important levels at 1.5294 & 1.5252.

BUYING AND SELLING INDICATION IN EURUSD (FIBER) 26/02/15

1st Option

Buy 1.1349
Stop 1.1277
Target / Limit 1.1549

2nd Option

Buy 1.1376
Stop 1.1287
Target / Limit 1.1576

Sell 1.1277
Stop 1.1349
Target / Limit 1.1077

OVERALL TRENDLINE IN EURUSD (FIBER) 26/02/15

• Short term: Up, as long as the price is above 1.1296.
• Medium term: Up, as long as the price is above 1.1096.
• Long term: Up, as long as the price is above 1.1096.

RESISTANCE TRENDLINE IN EURUSD (FIBER) 26/02/15

• 1.1374: an important resistance which combines the falling trend line from Thursday’s daily high, with the micro term 71.4% calculated for the drop from yesterday's high 1.1389 to the same day's low 1.1336. This level was tested with amazing accuracy earlier today, when the price topped one single pip below it.
• 1.1389: Yesterday's high & top.
• 1.1429: Friday’s high.
• 1.1466: 85.7% retracement level for the falling move from Feb 5th high 1.1499 to Feb 5th low & probable Fibonacci bottom 1.1270.
• 1.1499: Feb 5th daily high.
• 1.1534: Feb 3rd 13-day high.
• 1.1567: Jan 15th daily low.
• 1.1596: 85.7% retracement level, calculated for the falling move from Jan 21st high 1.1679 to Jan 26th 11-year low & probable termination point of wave (c) 1.1097.
• 1.1639: Jan 19th daily high
• 1.1679: Jan 21st daily high.
• 1.1727: Jan 14th low.

SUPPORT TRENDLINE IN EURUSD(FIBER) 26/02/15

• 1.1347: 71.4% retracement level, for the small rising move from yesterday's low 11336 to today's current high 1.1373.recovery from Tuesday's Yellen-low 1.1289 to Wednesday's high & top 1.1389.
• 1.1318: 71.4% retracement level, for the recovery from Tuesday's Yellen-low 1.1289 to Wednesday's high & top 1.1389.
• 1.1296: an important area where the rising trend line from Friday's low meets an obvious horizontal support on the 15-min & hourly charts.
• 1.1279: Friday’s low.
• 1.1264: Fibonacci 61.8% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534. This level was almost tested on Feb 9th & 10th, when the price bottomed at daily lows only 6 & 9 pips above it.
• 1.1222: 71.4% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1159: 85.7% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1096: the equality target, where wave (c) of the supposed second three, equals wave (a) of the same pattern. This level was tested with unbelievable accuracy when the market opened this week, as the price bottomed at an 11-year low one single pip above it, before rising more than 430 pips!
• 1.1046: a weekly low from Sep 2003.
• 1.0998: a weekly high from Aug 2003.
• 1.0935: a weekly high from Feb 2003.
• 1.0826: the cyclical Dow 66.7% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: a weekly low from Aug 2003.
• 1.0454: the cyclical 71.4% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.

EURUSD (FIBER) SYMMETRICAL CHART 26/02/15

EURUSD (FIBER) LATEST SCENARIO 26/02/15

My dear friends here, earlier today, the Euro reached a daily high of 1.1373, which is one single pip below 71.4% micro term retracement level. Moreover, the falling trend line from February 16th high is currently running extremely close to this level. This is the first resistance we need to care about. A break above this level is expected to open the way towards significant gains, and would be a real game-changer. First target for this break is Friday’s high 1.1429, ahead of 1.1466 & 1.1499. A break above this level will make it highly probable to see a new one-month high above 1.1534. In this case 1.1567 & 1.1596 make good targets, but the expected out of this rising move is to be able to eventually overcome all of these levels, and reach a 5-week high above 1.1679.

Support starts at a minor level at 1.1347, followed by 1.1318. But I believe as long as the price does not break below 1.1296, the Euro will be in a good position to achieve more gains. This is the most important support for the short term. In the event that 1.1296 is broken, 1.1279 will be expected to come under attack, and probably even 1.1264 & the very important 1.1222. This last level is key for the long term bullish outlook, because a break below it could put pressure on January’s 11-year low 1.1097. Having said that, we also have 1.1159 in between as a potential support. Don't forget my symmetrical level in 4hr chart too. Good Luck.

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BUYING AND SELLING INDICATION IN EURUSD (FIBER) 25/02/15

1st Option

Buy 1.1351
Stop 1.1277
Target / Limit 1.1551

2nd Option

Buy 1.1389
Stop 1.1309
Target / Limit 1.1589

Sell 1.1277
Stop 1.1351
Target / Limit 1.1077

OVERALL TRENDLINE IN EURUSD 9FIBER) 25/02/15

• Short term: Up, as long as the price is above 1.1296.
• Medium term: Up, as long as the price is above 1.1096.
• Long term: Up, as long as the price is above 1.1096.

RESISTANCE TRENDLINE IN EURUSD (FIBER) 25/02/14

• 1.1389: an important resistance which combines the falling trend line from Thursday’s daily high, with the micro term 71.4% calculated for the drop from Friday’s high 1.1429 to yesterday's Yellen-low 1.1289. This level was tested with 100% accuracy earlier today, when the price topped exactly at 1.1389!
• 1.1429: Friday’s high.
• 1.1466: 85.7% retracement level for the falling move from Feb 5th high 1.1499 to Feb 5th low & probable Fibonacci bottom 1.1270.
• 1.1499: Feb 5th daily high.
• 1.1534: Feb 3rd 13-day high.
• 1.1567: Jan 15th daily low.
• 1.1596: 85.7% retracement level, calculated for the falling move from Jan 21st high 1.1679 to Jan 26th 11-year low & probable termination point of wave (c) 1.1097.
• 1.1639: Jan 19th daily high
• 1.1679: Jan 21st daily high.
• 1.1727: Jan 14th low.

SUPPORT TRENDLINE IN EURUSD(FIBER) 25/02/15

• 1.1351: Fibonacci 38.2% retracement level, for the recovery from yesterday’s Yellen-low 1.1289 to today’s current daily high & top 1.1389.
• 1.1339: Fibonacci 50% retracement level, for the recovery from yesterday’s Yellen-low 1.1289 to today’s current daily high & top 1.1389.
• 1.1318: 71.4% retracement level, for the recovery from yesterday’s Yellen-low 1.1289 to today’s current daily high & top 1.1389.
• 1.1296: an important area where the rising trend line from Friday's low meets an obvious horizontal support on the 15-min & hourly charts.
• 1.1279: Friday’s low.
• 1.1264: Fibonacci 61.8% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534. This level was almost tested on Feb 9th & 10th, when the price bottomed at daily lows only 6 & 9 pips above it.
• 1.1222: 71.4% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1159: 85.7% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1096: the equality target, where wave (c) of the supposed second three, equals wave (a) of the same pattern. This level was tested with unbelievable accuracy when the market opened this week, as the price bottomed at an 11-year low one single pip above it, before rising more than 430 pips!
• 1.1046: a weekly low from Sep 2003.
• 1.0998: a weekly high from Aug 2003.
• 1.0935: a weekly high from Feb 2003.
• 1.0826: the cyclical Dow 66.7% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: a weekly low from Aug 2003.
• 1.0454: the cyclical 71.4% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.

EURUSD IN 15 MINS CHART 25/02/14

EURSD (FIBER) LATEST SCENARIO (25/02/14)

My dear friends here especially Ken Meurs and others for your patience..,after an agreement between Greece & the EU has been reached, it is time to focus completely on the technical.

Earlier today, the Euro reached a daily high of 1.1389, which is exactly, and down to the pip, 71.4% micro term retracement level. Moreover, the falling trend line from February 16th high is currently running extremely close to this level. This is the first resistance we need to care about. A break above this level is expected to open the way towards significant gains. A break above 1.1389 would be a real game-changer, especially if this break gets support from the EU-Greece news. First target for this break is Friday’s high, ahead of 1.1466 & 1.1499. A break above this level will make it highly probable to see a new one-month high above 1.1534. In this case 1.1567 & 1.1596 make good targets, but the expected out of this rising move is to be able to eventually overcome all of these levels, and reach a 5-week high above 1.1679.

Support starts at a minor level at 1.1351, followed by more important levels at 1.1339 & 1.1318. But I believe as long as the price does not break below 1.1296, the Euro will be in a good position to achieve more gains. This is the most important support for the short term. In the event that 1.1296 is broken, 1.1279 will be expected to come under attack, and probably even 1.1264 & the very important 1.1222 for new leg lower as I mentioned in our telegram chats. This last level is key for the long term bullish outlook, because a break below it could put pressure on January’s 11-year low 1.1097. Having said that, we also have 1.1159 in between as a potential support. Happy trading guys.

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BUYING AND SELLING INDICATION IN GBPUSD (CABLE) 24/02/15

Buy 1.5491
Stop 1.5429
Target / Limit 1.5691

Sell 1.5429
Stop 1.5491
Target / Limit 1.5229

OVERALL TRENDLINE IN GBPUSD (CABLE) 24/02/15

• Short term: Down, as long as we are below 1.5480.
• Medium term: Up, as long as we are above 1.5102.
• Long term: Down, as long as we are below 1.7191.

RESISTANCE TRENDLINE IN GBPUSD (CABLE) 24/02/15

• 1.5480: Wednesday’s 7-week high, which is very close to the bottom of the broken wedge.
• 1.5504: Dec 24th daily low.
• 1.5552: medium term Fibonacci 38.2% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5587: Dec 31st daily low.
• 1.5625: medium term 42.9% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5682: Dec 11th daily low.
• 1.5738: medium term Fibonacci 50% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5807: long term Fibonacci 61.8% retracement level, calculated for the falling move from July 6-year high 1.7191 to Jan 23rd’s 19-month low 1.4951.

SUPPORT TRENDLINE IN GBPUSD (CABLE) 24/02/15

• 1.5430: the Asian session’s low.
• 1.5403: micro term Fibonacci 50% retracement, calculated for the rising move from yesterday’s low & bottom 1.5332 to the same day’s high 1.5475.
• 1.5386: micro term Fibonacci 61.8% retracement, calculated for the rising move from yesterday’s low & bottom 1.5332 to the same day’s high 1.5475. 
• 1.5372: micro term 71.4% retracement, calculated for the rising move from yesterday’s low & bottom 1.5332 to the same day’s high 1.5475.
• 1.5329: short term 28.6% retracement level , calculated for the whole rising move from Jan 23rd 19-month low to Wednesday’s 7-week high 1.5480.
• 1.5278: short term Fibonacci 38.2% retracement level , calculated for the whole rising move from Jan 23rd 19-month low to Wednesday’s 7-week high 1.5480.
• 1.5253: short term 42.9% retracement level , calculated for the whole rising move from Jan 23rd 19-month low to Wednesday’s 7-week high 1.5480.
• 1.5216: short term Fibonacci 50% retracement level , calculated for the whole rising move from Jan 23rd 19-month low to Wednesday’s 7-week high 1.5480.
• 1.5178: short term 57.1% retracement level , calculated for the whole rising move from Jan 23rd 19-month low to Wednesday’s 7-week high 1.5480.
• 1.5153: short term Fibonacci 61.8% retracement level , calculated for the whole rising move from Jan 23rd 19-month low to Wednesday’s 7-week high 1.5480.
• 1.5102: short term 71.4% retracement level , calculated for the whole rising move from Jan 23rd 19-month low to Wednesday’s 7-week high 1.5480.
• 1.5027: short term 85.7% retracement level , calculated for the whole rising move from Jan 23rd 19-month low to Wednesday’s 7-week high 1.5480.

GBPUSD (CABLE) IN 4 HOUR CHART 24/02/15

GBPUSD (CABLE) LATEST SCENARIO 24/02/15

My dear friends and readers here,today’s chart is a 4-hour chart, and it clearly includes a wedge, that the price moved within in a very exciting very accurate way, before breaking it to the downside as expected (the expected direction of the wedge break is the opposite direction to its nose: this wedge is pointing to the upside, therefore the expected break is to the downside). The implications of this break are definitely bearish, but I think they will be relatively limited because the price has already broken above the top of the daily channel which we talked about in my previous analysis. Breaking above the top of the falling daily channel from July’s top means that the general atmosphere is bullish, and that any setbacks, like the one expected upon the break of this wedge, should provide good chances to buy.

So, let us consider the bearish possibilities first. The Asian session’s low 1.5430 is our first support. A break below this level will open the way lower towards the micro term retracement levels at 1.5403, 1.5386 & 1.5372. A break below this last one will be another sign of weakness, which should target at least one of the short term retracement levels which start at 1.5329, followed by the first Fibonacci level at 1.5278, an ideal target at 1.5216, and 2 key levels at 1.5153 & 1.5102. Since we have a wedge, the price target could be one of those retracements, but it could also be below the bottom of the wedge itself (which is 1.4989). However, the fact that we have broken above the top of the daily channel, makes it hard to imagine a drop that will break below 1.5102.

As for the resistance, first we have last week’s trend top 1.5480, which is also very close to the bottom of the wedge, which means a break above 1.5480 will take the price back inside the wedge, which is not expected. But in case this actually happens, he price will be In this case we have potential targets at 1.5504 which is a minor level, 1.5552 which is a Fibonacci retracement & 1.5587. Higher, more interesting targets include next level at 1.5625, and the ideal Fibonacci level at 1.5738 in my opinion before long term bearish back to below 1.5000 handle again.

BUYING AND SELLING INDICATION IN EURUSD (FIBER) 24/02/15

1st Option

Buy 1.1321
Stop 1.1245
Target / Limit 1.1521

2nd Option

Buy 1.1364
Stop 1.1285
Target / Limit 1.1564

Sell 1.1245
Stop 1.1321
Target / Limit 1.1045

OVERALL TRENDLINE IN EURUSD (FIBER) 24/02/15

• Short term: Up, as long as the price is above 1.1313.
• Medium term: Up, as long as the price is above 1.1096.
• Long term: Up, as long as the price is above 1.1096.

RESISTANCE TRENDLINE IN EURUSD (FIBER) 24/02/15

• 1.1336: the falling trend line from yesterday’s high.
• 1.1362: micro term Fibonacci 50% calculated for the drop from Friday’s high 1.1429 to Monday’s low 1.1295. This level was tested during yesterday’s American session with stunning accuracy, when the price topped at a session-high one single pip above it, before dropping again.
• 1.1378: micro term Fibonacci 61.8% calculated for the drop from Friday’s high 1.1429 to Monday’s low 1.1295.
• 1.1391: an important resistance which combines the falling trend line from Thursday’s daily high, with the micro term 71.4% calculated for the drop from Friday’s high 1.1429 to Monday’s low 1.1295.
• 1.1429: Friday’s high.
• 1.1466: 85.7% retracement level for the falling move from Feb 5th high 1.1499 to Feb 5th low & probable Fibonacci bottom 1.1270.
• 1.1499: Feb 5th daily high.
• 1.1534: Feb 3rd 13-day high.
• 1.1567: Jan 15th daily low.
• 1.1596: 85.7% retracement level, calculated for the falling move from Jan 21st high 1.1679 to Jan 26th 11-year low & probable termination point of wave (c) 1.1097.
• 1.1639: Jan 19th daily high
• 1.1679: Jan 21st daily high.
• 1.1727: Jan 14th low.

SUPPORT TRENDLINE IN EURUSD (FIBER) 24/02/15

• 1.1313: The rising trend line from Friday's low.
• 1.1279: Friday’s low.
• 1.1264: Fibonacci 61.8% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534. This level was almost tested on Feb 9th & 10th, when the price bottomed at daily lows only 6 & 9 pips above it.
• 1.1222: 71.4% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1159: 85.7% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1096: the equality target, where wave (c) of the supposed second three, equals wave (a) of the same pattern. This level was tested with unbelievable accuracy when the market opened this week, as the price bottomed at an 11-year low one single pip above it, before rising more than 430 pips!
• 1.1046: a weekly low from Sep 2003.
• 1.0998: a weekly high from Aug 2003.
• 1.0935: a weekly high from Feb 2003.
• 1.0826: the cyclical Dow 66.7% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: a weekly low from Aug 2003.
• 1.0454: the cyclical 71.4% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.

EURUSD (FIBER) LATEST SCENARIO. 25/02/15

My dear friends here,..yesterday was a quit day for Euro/Dollar, and that was not surprising, considering that the markets are waiting for Greece to submit a list of reports, and the EU to respond to that list. Unfortunately, the Euro traders are taken captive by this Greek drama series, and will not be completely free until it is over. Latest news Greece finally delivers the reform papers. So better wait for Yellen speech and ECB Draghi later for more confirmation but some rumors said Yellen to be expected more hawkish language today. Together with Draghi speech 1 hour earlier from her testifies, so be on your guess later.

BUYING AND SELLING INDICATION IN EURUSD (FIBER) 23/02/15

Buy 1.1338
Stop 1.1281
Target / Limit 1.1499

Sell 1.1281
Stop 1.1338
Target / Limit 1.1161

OVERALL TRENDLINE IN EURUSD (FIBER) 23/02/15

• Short term: Up, as long as the price is above 1.1322.
• Medium term: Up, as long as the price is above 1.1096.
• Long term: Up, as long as the price is above 1.1096.

RESISTANCE TRENDLINE IN EURUSD (FIBER) 23/02/15

• 1.1374: the falling trend line from Friday’s high.
• 1.1401/1.1408: Fibonacci 61.8% & 71.4% retracement, for the drop from Friday’s high.
• 1.1429: Friday’s high.
• 1.1466: 85.7% retracement level for the falling move from Feb 5th high 1.1499 to Feb 5th low & probable Fibonacci bottom 1.1270.
• 1.1499: Feb 5th daily high.
• 1.1534: Feb 3rd 13-day high.
• 1.1567: Jan 15th daily low.
• 1.1596: 85.7% retracement level, calculated for the falling move from Jan 21st high 1.1679 to Jan 26th 11-year low & probable termination point of wave (c) 1.1097.
• 1.1639: Jan 19th daily high
• 1.1679: Jan 21st daily high.
• 1.1727: Jan 14th low.

SUPPORT TRENDLINE IN EURUSD (FIBER) 23/02/15

• 1.1354: Fibonacci 50% for the rising move from Friday’s low 1.1279 to the same day’s high 1.1429.
• 1.1336: Fibonacci 61.8% for the rising move from Friday’s low 1.1279 to the same day’s high 1.1429.
• 1.1322: 71.4% for the rising move from Friday’s low 1.1279 to the same day’s high 1.1429.
• 1.1300: 85.7% for the rising move from Friday’s low 1.1279 to the same day’s high 1.1429.
• 1.1279: Friday’s low.
• 1.1264: Fibonacci 61.8% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534. This level was almost tested on Feb 9th & 10th, when the price bottomed at daily lows only 6 & 9 pips above it.
• 1.1222: 71.4% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1159: 85.7% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1096: the equality target, where wave (c) of the supposed second three, equals wave (a) of the same pattern. This level was tested with unbelievable accuracy when the market opened this week, as the price bottomed at an 11-year low one single pip above it, before rising more than 430 pips!
• 1.1046: a weekly low from Sep 2003.
• 1.0998: a weekly high from Aug 2003.
• 1.0935: a weekly high from Feb 2003.
• 1.0826: the cyclical Dow 66.7% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: a weekly low from Aug 2003.
• 1.0454: the cyclical 71.4% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.

WEEKLY CHART EURUSD (FIBER)

EURUSD LATEST SCENARIO 23/02/15

My dear friend in fxbeat fb, telegram fxbeat group andostglinde.blogspot.com readers..Last week on Friday, the euro was falling until another episode of the Greek drama unfolded, and the Euro went from a daily low of 1.1279 to a daily high 1.1429 in about 4 hours.

Unfortunately, this move proved that the Euro is still connected with the Greek ongoing drama, and that significant moves will continue to be dependent on any good or bad news about the development of the financial problems of Greece. It is highly probable that we will finally see an end to this story in the development expected today & tomorrow, when Greece is going to present a list of economic & financial reforms, and the EU will either approve them or not.

Approaching the end of this story, has brought back the long term outlook under the spotlight. In my opinion, it is highly probable that the Euro will start to move significantly higher, once an agreement is reached. The long term technicals favor the upside, for months & years to come.

Please allow me to talk once again about why I think there is a very good chance that the Euro has ended a 6-year drop from 1.6038, and that it will move much, much higher in the next few years. My favorite possibility is that we may have seen a very important bottom in January, and to keep this idea in mind as long as it holds is very important. On January 26th, the Euro bottomed at a new 11-year low at 1.1097. At first, this may seem like just another low in this sharp downtrend, but it may be a very, very special one! In the support section of the reports issued in the second half of January, you may have seen this support included every single day:

This means that stopping at 1.1097 has a lot of meaning! The equality target is one of the favorite targets in The Wave Principle (Elliott Wave Theory as it is known to many), and here we have one of the most praised equality relationship among all of Elliott waves: the equality relationship between (a) & (c)! This pushed a very important question under the spotlight: The Euro has been in a complex correction pattern (probably a double-three) since it reached its all-time high 1.6038 in July 2008, Does reaching 1.1097 mean this correction is over...?

It may be still early to tell, but bouncing for more than 430 pips from 1.1097 sure looks like a good start. Therefore, we should maintain this as the most important question for now. If the answer is yes, imagine the consequences! The move for which this level is calculated is the cyclical (very long term) enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038, which caused the Euro to almost doubled in value against the Dollar. The magnitude is unbelievable! We are talking about a 7800-pip move on the span of about 8 years, which almost doubled the value of the currency! Therefore, the idea that the correction for this move may has ended with such a breathtaking accuracy sends shivers down my spine. If the wave count on the attached weekly chart (chart #1) is correct, the Euro is already very attractive to buy for long term investors, and it will become very attractive for medium term & short term investors once we have a credible confirmation that wave C has reached its end (PS: reaching 1.1097 significantly improves the possibility that wave C has ended, but up until now there is no confirmation of that). The size of the uptrend which will follow this 6-year correction pattern is going to be very big, as trading above 1.60 will be expected once we are done with this correction, given enough time of course. Enough time here may mean years, but we are talking about 5,000 pips at the very least. This is very exciting.

On the other hand, if we cannot defend the bullish territory at 1.1097, this could very much open the way lower to the last level of the important cyclical retracement levels at 1.0454! Bulls need 1.1097 to hold its ground, we need to defend it well, and need to realize that it is from this very point that the armies of the bulls will start fighting to reach 1.70 or above! The battle to reach such unimaginable levels has already started at 1.1097!

As for the shorter term, the price has retreated a little less than 50% of Friday’s lo-hi move. The 50% level is at 1.1354, and it is providing initial support. More support levels of the same kind are offered at the Fibonacci 61.8% & 71.4% retracements at 1.1336 & 1.1322. If the price bottoms to any of those levels, a rising move will be expected. But if the price breaks below all 3, more weakness will probably follow. What looks like a logical trading plan this morning is to buy if the price bottoms very close to 1.1354 or 1.1336., with a stop below 1.1322 with enough number of pips, and a limit above Friday’s high. However, in the unlikely event that 1.1322 is broken, 1.1279 will be expected to come under attack, and may be even 1.1264 & the very important 1.1222. This last level is key for the long term bullish outlook, because a break below it could put pressure on January’s 11-year low 1.1097, but between these levels we also have 1.1159 as a potential support.

Resistance can be found at 1.1374, where the falling trend line from Friday’s high is currently running. A break above this level, especially if it comes after bottoming very close to 1.1354 or 1.1336, should be vied as a bullish signal. This break, in case it actually happens will be expected to target the micro term resistance area 1.1401/8. A break above this area will open the way higher towards Friday’s high, ahead of 1.1466 & 1.1499. A break above this level will make it highly probable to see a one-month high above 1.1534. In this case 1.1567 & 1.1596 make good targets.

BUYING AND SELLING INDICATION IN GBPUSD (CABLE) 18/02/15

1st Option
Buy 1.5366
Stop 1.5278
Target / Limit 1.5566

2nd Option
Buy 1.5299
Stop 1.5223
Target / Limit 1.5499

Sell 1.5196
Stop 1.5260
Target / Limit 1.4996

OVERALL TRENDLINE IN GBPUSD (CABLE) 18/02/15

• Short term: Down, as long as we are below 1.5378.
• Medium term: Up, as long as we are above 1.5112.
• Long term: Down, as long as we are below 1.7191.

RESISTANCE TRENDLINE IN GBPUSD (CABLE) 18/02/15

• 1.5363: micro term Fibonacci 38.2% calculated for the drop from Monday's high 1.5440 to yesterday's low 1.5316.
• 1.5378: an important resistance which combines the falling trend line from Monday's high, with the micro term Fibonacci 50% calculated for the drop from Monday's high 1.5440 to yesterday's low 1.5316.
• 1.5393: micro term Fibonacci 61.8% calculated for the drop from Monday's high 1.5440 to yesterday's low 1.5316.
• 1.5405: micro term 71.4% calculated for the drop from Monday's high 1.5440 to yesterday's low 1.5316.
• 1.5440: Monday's 6-week high.
• 1.5475: an important resistance which combines the rising trend line from Jan 27th high, with the medium term Dow 33.3% retracement level, calculated for the falling move from September’s Scottish referendum high 1.6524 to Jan 23rd 19-month low 1.4951.
• 1.5504: Dec 24th daily low.
• 1.5552: medium term Fibonacci 38.2% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5587: Dec 31st daily low.
• 1.5625: medium term 42.9% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5682: Dec 11th daily low.
• 1.5738: medium term Fibonacci 50% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.

SUPPORT TRENDLINE IN GBPUSD (CABLE) 18/02/15

• 1.5308: micro term 57.1% retracement level, calculated for the rising move from Thursday’s daily low 1.5209 to yesterday's 6-week high 1.5440.
• 1.5297: micro term Fibonacci 61.8% retracement level, calculated for the rising move from Thursday’s daily low 1.5209 to yesterday's 6-week high 1.5440.
• 1.5275: micro term 71.4% retracement level, calculated for the rising move from Thursday’s daily low 1.5209 to yesterday's 6-week high 1.5440.
• 1.5242: micro term 85.7% retracement level, calculated for the rising move from Thursday’s daily low 1.5209 to yesterday's 6-week high 1.5440.
• 1.5215: short term Fibonacci 50% retracement level, calculated for the rising move from February 3rd major double bottom & level 1.4989, to yesterday's 6-week high 1.5440.
• 1.5161: short term Fibonacci 61.8% retracement level, calculated for the rising move from February 3rd major double bottom & level 1.4989, to yesterday's 6-week high 1.5440.
• 1.5118: short term 71.4% retracement level, calculated for the rising move from February 3rd major double bottom & level 1.4989, to yesterday's 6-week high 1.5440.

GBPUSD (CABLE) IN 15 MINS CHART 18/02/15

GBPUSD (CABLE) LATEST SCENARIO 18/02/15

For my friends here, the Cable dropped to 1.5316 which is not an accurate stop at any (key) retracement level, but is 8 pips above my 57.1% prediction retracement. However, after this healthy correction, if the Cable holds ground above the important support levels, it will be expected to start moving significantly higher, since it did break above the top of daily channel.
Late last week, an important resistance was tested, and we could also that it may have been broken: the top of the falling daily channel which can be drawn from July’s 6-year high. If we use the bottoms first to draw this channel (as is done on attached chart #1), the top of this channel would have been already broken. Now after this healthy correction, it may be the time to use this break in order to achieve significant gains!
Resistance can be found at the micro term retracements at 1.5363, 1.5378, 1.5393 & 1.5405 (already above this level). Although these levels are very close to each other they are capable of giving us clues about the strength of the Cable. As we break above each of them, the confidence rises, while a top very close to any of them would be a reason to worry for the bulls. Breaking above 1.5405 in specific is the one thing needed in order to open the way higher towards levels above Monday’s high. A more important resistance is 1.5475. Breaking above this level would confirm breaking above the daily channel’s top. The implications of this break are gigantic for the medium term bulls. First target for breaking the 1.5460/75 area is 1.5504, followed by a more important levels at 1.5552, 1.5625 & 1.5738!
However, we still do not have evidence that the correction is over, it could still target the rest of the micro term retracements at 1.5297 & 1.5275. A bottom very close to either of them would be a sign that the minor healthy correction is over, and that it is time to go up again, which goes along very well with breaking above the top of the daily channel. A break below all of these micro term retracements is highly improbable at the moment, but testing at least one of them can never be ruled out. However, if the price surprises us with a break below 1.5275, that would target important short term retracements at 1.5215, 1.5161 & 1.5118. Good luck!

BUYING AND SELLING INDICATION IN EURUSD (FIBER) 18/02/15

1st Option

Buy 1.1387
Stop 1.1299
Target / Limit 1.1587

2nd Option

Buy 1.1428
Stop 1.1336
Target / Limit 1.1628

Sell 1.1299
Stop 1.1363
Target / Limit 1.1099

OVERALL TRENDLINE IN EURUSD (FIBER) 18/02/15

• Short term: Up, as long as the price is above 1.1319.
• Medium term: Up, as long as the price is above 1.1096.
• Long term: Up, as long as the price is above 1.1096.

RESISTANCE TRENDLINE IN EURUSD (FIBER) 18/02/15

• 1.1412: the top of the small triangle.
• 1.1425: the falling trend line from Feb 3rd top.
• 1.1443: Friday’s high which is only 9 pips above 71.4% retracement level for the falling move from Feb 5th high 1.1499 to Feb 9th low & probable Fibonacci bottom 1.1270. 
• 1.1466: 85.7% retracement level for the falling move from Feb 5th high 1.1499 to Feb 5th low & probable Fibonacci bottom 1.1270.
• 1.1499: Feb 5th daily high.
• 1.1534: Feb 3rd 13-day high.
• 1.1567: Jan 15th daily low.
• 1.1596: 85.7% retracement level, calculated for the falling move from Jan 21st high 1.1679 to Jan 26th 11-year low & probable termination point of wave (c) 1.1097.
• 1.1639: Jan 19th daily high
• 1.1679: Jan 21st daily high.
• 1.1727: Jan 14th low.

SUPPORT TRENDLINE IN EURUSD (FIBER) 18/02/15

• 1.1385: The rising trend line from yesterday’s Asian session low.
• 1.1355: The rising trend line from Monday’s bottom.
• 1.1319: 71.4% retracement level, calculated for the rising move from February 9th low 1.1270 to Friday’s 1-week high 1.1443. This level showed "magical powers" on Monday, when it was tested with unbelievable accuracy, as the Euro reached a daily low at 1.1319 exactly!
• 1.1295: 85.7% retracement level, calculated for the rising move from February 9th low 1.1270 to Friday’s 1-week high 1.1443.
• 1.1264: Fibonacci 61.8% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534. This level was almost tested on Feb 9th & 10th, when the price bottomed at daily lows only 6 & 9 pips above it.
• 1.1222: 71.4% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1159: 85.7% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1096: the equality target, where wave (c) of the supposed second three, equals wave (a) of the same pattern. This level was tested with unbelievable accuracy when the market opened this week, as the price bottomed at an 11-year low one single pip above it, before rising more than 430 pips!
• 1.1046: a weekly low from Sep 2003.
• 1.0998: a weekly high from Aug 2003.
• 1.0935: a weekly high from Feb 2003.
• 1.0826: the cyclical Dow 66.7% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: a weekly low from Aug 2003.
• 1.0454: the cyclical 71.4% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.

EURUSD IN 15 MINS CHART 18/02/15

EURUSD (FIBER) LATEST SCENARIO 18/02/15

My dear friends in whatsapps, telegram, and fxbeat fb too.. as expected after Greece issues, the Euro rose yesterday after using my opinion level at 1.1319 (yesterday drop lower) as a cushion. The accuracy of the test let to a rising move of about 130 pips, and an attempt to break above 1.1434, but the price dropped back below this level soon after reaching a daily high 14 pips above it.

However, the price action seen after reaching yesterday’s high at 1.1448 is not directional, and has resulted in a small triangle, indicating lack of decision. The overall picture is still bullish of course, but the triangle drawn on the attached chart shows that we should be careful, because after triangles, the price could go either way whether downside or upside. However, the triangle is so small that we cannot use its borders to build a trading strategy, so we need to depend on other support & resistance levels.

The triangles top is at 1.1413, but a more important resistance is the falling trend line from February 3rd top, which is currently running around 1.1425. This will be our first resistance for today. A break above this level will open the way higher towards 1.1466, followed by 1.1499 & 1.1534, but once we have a break above 1.1408, we should expect the price to trade above this last level. In this case 1.1567 & 1.1596 make very good targets.

The triangles bottom is at 1.1404, but a more important support is provided by the rising trend line from Tuesday’s Asian session low, which is currently running at 1.1385. A break below this level will open the way lower towards the rising trend line from Monday’s bottom which is currently running around 1.1355. A break below this level would be a strong weakness sign, but the most important support will continue to be 1.1319. As long as this level holds, the Euro will be expected to rise significantly. However, if we get “a small surprise”, and we break below 1.1319, the targets for this break would include 1.1264 & the very important 1.1222. This last level is key for the long term bullish outlook, because a break below it could put pressure on January’s 11-year low 1.1097. Today, please get prepare for FOMC storm at 1900 GMT.

OVERALL TRENDLINE IN EURUSD (FIBER) 13/02/15

• Short term: Up, as long as the price is above 1.1096.
• Medium term: Up, as long as the price is above 1.1096.
• Long term: Up, as long as the price is above 1.1096.

RESISTANCE TRENDLINE IN EURUSD (FIBER) 13/02/15

• 1.1434: 71.4% retracement level for the falling move from Feb 5th high 1.1499 to Monday's low & probable Fibonacci bottom 1.1270. This level was testing with accurately when the price topped at a 1-week high only 6 pips above it earlier today.
• 1.1466: 85.7% retracement level for the falling move from Feb 5th high 1.1499 to Monday's low & probable Fibonacci bottom 1.1270.
• 1.1499: Thursday’s daily high.
• 1.1534: Feb 3rd 13-day high.
• 1.1567: Jan 15th daily low.
• 1.1596: 85.7% retracement level, calculated for the falling move from Jan 21st high 1.1679 to Jan 26th 11-year low & probable termination point of wave (c) 1.1097.
• 1.1639: Jan 19th daily high
• 1.1679: Jan 21st daily high.
• 1.1727: Jan 14th low.

SUPPORT TRENDLINE IN EURUSD (FIBER) 13/02/15

• 1.1415: the rising trend line from yesterday’s American session low.
• 1.1379: Fibonacci 38.2% retracement level, calculated for the rising move from Wednesday’s low 1.1280 to today’s 1-week high 1.1440.
• 1.1360: Fibonacci 50% retracement level, calculated for the rising move from Wednesday’s low 1.1280 to today’s 1-week high 1.1440.
• 1.1341: Fibonacci 61.8% retracement level, calculated for the rising move from Wednesday’s low 1.1280 to today’s 1-week high 1.1440.
• 1.1326: 71.4% retracement level, calculated for the rising move from Wednesday’s low 1.1280 to today’s 1-week high 1.1440.
• 1.1303: 85.7% retracement level, calculated for the rising move from Wednesday’s low 1.1280 to today’s 1-week high 1.1440.
• 1.1264: Fibonacci 61.8% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534. This level was almost tested on Monday, then again on Tuesday, when the price bottomed at daily lows only 6 & 9 pips above it.
• 1.1222: 71.4% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1159: 85.7% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1096: the equality target, where wave (c) of the supposed second three, equals wave (a) of the same pattern. This level was tested with unbelievable accuracy when the market opened this week, as the price bottomed at an 11-year low one single pip above it, before rising more than 220 pips!
• 1.1046: a weekly low from Sep 2003.
• 1.0998: a weekly high from Aug 2003.
• 1.0935: a weekly high from Feb 2003.
• 1.0826: the cyclical Dow 66.7% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: a weekly low from Aug 2003.
• 1.0454: the cyclical 71.4% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.