http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-10.htmlEUR/USD The pair couldn't hit SMA 100 and started to show a slight bearish tendency as seen on the provided daily graph. Meanwhile, trading continued above the pivotal support of 1.3230 and also above SMA 50. The bearish picture will not come back into focus unless we witness a daily closing below the aforesaid level. The contrarian between the above mentioned factors forces us to stay aside over intraday basis until an actionable setup presents itself to pinpoint the upcoming bigFri, 10 Feb 2012 07:31:49 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-10.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-09.htmlEUR/USD The pair has achieved one more daily closing above the initial resistance of 1.3225-1.3230 suggesting that the bullishness will continue over intraday basis. SMA 100 becomes a technical objective followed by the next key resistance around 1.3415 zones. Stochastic also remains positive reinforcing our constructive outlook. Only a break below 1.3125 will give us a reason for concern. The trading range for today is among key support at 1.3045 and key resistance at 1.3455. The generalThu, 09 Feb 2012 07:47:03 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-09.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-08.htmlEUR/USD The daily closing above the initial resistance of 1.3225-1.3230 succeeded in drawing a bullish candlestick pattern-long white candlestick- as seen on the provided daily chart. Now, SMA 100 at 1.3335 followed by 1.33.75 become technical objectives for the upside momentum seen yesterday. Moreover, Stochastic has fixed its negative sign seen during the past 10 days. In result, potential upside move might be witnessed today but we should be careful as a break back below 1.3125 will bringWed, 08 Feb 2012 07:31:04 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-08.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-07.htmlEUR/USD SMA 50 continued representing a hard technical obstacle that prevents the pair from collapsing as seen on the provided daily chart. We added Keltner channel to our graph where we can see how trading is stable below the middle line of the indicator. Meanwhile, Stochastic and OsMA remain negative; thus, we keep our bearish overview unchanged over intraday basis. A break below 1.3045 will trigger panic sell-off actions. The trading range for today is among key support at 1.2860 and keyTue, 07 Feb 2012 07:34:34 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-07.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-06.htmlEUR/USD The pair has moved bearishly since the opening of the week where it came below SMA 50 over four-hour interval as seen on the secondary image. Over daily studies, the negativity continued appearing on Stochastic and OsMA and thus; the bearishness is still expected during this week. A break below 1.3070-1.3050 zones will accelerate declines softly targeting 1.2925 followed by 1.2870-1.2860. Our risk limit resides in the areas between 1.3340 and 1.3375 zones. The trading range for thisMon, 06 Feb 2012 07:24:36 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-06.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-03.htmlEUR/USD The potential bearish classical pattern discussed earlier remains valid while the pair is gradually approaching its neckline as seen on the provided graph. SMA 50-colored in red- becomes closer and is valued at 1.3110 where a break of which will weaken the neckline of the pattern. MACD traditional is definitely negative reinforcing the bearish scenario. Note that, choppy trading may continue as traders are waiting for NFP data from US today. The trading range for today is among keyFri, 03 Feb 2012 07:36:10 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-03.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-01.htmlEUR/USD Adopting a favorable action to yesterday's technical comment, the pair has plummeted sharply attacking SMA 50. Moving to the four-hour graph, we can see how it has drawn a reversal classical pattern breaching its neckline areas while MACD traditional and RSI are giving off negative signs. Thereby, the bearishness may continue over intraday basis and targets are well seen on the provided graph. Only a break of 1.3230 will give us a rational reason for pause. The trading range for todayWed, 01 Feb 2012 07:16:27 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-02-01.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-31.htmlEUR/USD The pair has been able to touch the SMA 50 which provided it with some kind of support during the Asian session. Thereby, the pair retraced mildly upwards but it is still trading comfortably below the key resistance levels between 1.3230 and 1.3250. At the same time, Stochastic continues showing overbought signs suggesting that the pair is currently gathering the momentum it needs to breach through SMA 50. To recap, our bearish scenario remains intact so long as SMA 100 at 1.3375 holdsTue, 31 Jan 2012 08:47:42 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-31.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-30.htmlEUR/USD The pair has touched a very strong barrier around 1.3230 which forced it to pullback during the Asian session as seen on the provided daily chart. We can see on the same main graph an obvious overbought sign appearing on Stochastic; whilst the secondary four-hour time scale offers a huge negative divergence on its RSI 14. Hence, we suggest potential downside actions during this week covered by SMA 100. Ultimately, a break below 1.3080-Vlaue of SMA 50- will confirm and accelerateMon, 30 Jan 2012 07:49:48 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-30.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-26.htmlEUR/USD The pair touched the level of 1.2930 and then rebounded sharply to the upside damaging our negative expectations yesterday, after the breach of the level of 1.3035. The pair approached the resistance level at 1.3135, while the negative divergence seen on RSI is still valid and the return of the downside movement is still possible due to the mentioned resistance level, but the long bullish candlestick is a positive sign, while the moving averages are trading positively. Therefore, weThu, 26 Jan 2012 07:04:04 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-26.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-25.htmlEUR/USD The decline seen was limited in areas around the exponential moving average 20, yet despite that the pair returned to incline, but we can see how the pair is unable to settle above the level of 1.3035, which drives us to hold onto our negative expectations. RSI reversed to the downside, which supports our expectations. The trading range for today is among the major support at 1.2795 and the major resistance at 1.3195. The short-term trend is to the downside with steady daily closingWed, 25 Jan 2012 07:07:03 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-25.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-23.htmlEUR/USD As shown above on the chart, the pair is currently stable within areas around a previous minor top around the support level at 1.2875 and also around the simple moving average 20. However, the pair is presently trading outside the scope of the downside movement that was breached last week. All these factors suggests that the pair could extend the upside move, targeting areas around 1.3035 at least and then areas around 1.3135, but we don’t expect reaching areas beyond 1.3195-1.3200Mon, 23 Jan 2012 06:56:12 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-23.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-20.htmlEUR/USD The pair rebounded to the upside despite the overbought signs seen on momentum indicators, but the breach of the main resistance of the downside movement in addition to the stability above 1.2875 is sufficient for us to expect the upside move to extend further. The exponential moving averages are positive. The level of 1.3005-35 is our primary target, while a breach of this level could support the pair to rest areas around 1.3135-95. The trading range for today is among the majorFri, 20 Jan 2012 07:20:15 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-20.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-19.htmlEUR/USD The pair is currently trading above the main resistance line of the downside movement, but also below the resistance level of 1.2875. Stochastic provides a negative crossover within overbought areas, but the exponential moving averages 20 and 50 attempt to provide a positive crossover. Due to the technical conflict seen, we remain neutral in our morning report, awaiting more confirmations. The trading range for today is among the major support at 1.2665 and the major resistance atThu, 19 Jan 2012 06:52:38 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-19.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-18.htmlEUR/USD The pair is unable to surpass the resistance level at 1.2795, where we cannot see any 4-hour closing above this level since the start of this week. But, the pair is still stable above the exponential moving averages 20 and 50 around 1.2745, while Stochastic provides a positive crossover above the 50-point level. These factors suggest that the pair could provide another bullish attempt today. The pair faces two technical barriers; the first one is the descending main resistance level atWed, 18 Jan 2012 06:49:55 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-18.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-17.htmlEUR/USD The pair inclined to settle again above 1.2665, and in result it didn’t provide any daily closing below this level, which negates the breach seen with the start of this week. Therefore, we expect the pair to incline again, despite the several barriers facing the upside move, where the pair is still trading below the exponential moving averages, but trading above the mentioned level supports our bullish outlook to remain valid. The trading range for today is among the major support atTue, 17 Jan 2012 07:09:01 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-17.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-16.htmlEUR/USD The pair declined sharply to settle now in areas below 261.8% Fibonacci as shown above at 1.2665, where this stability suggests more bearishness towards 1.2535 at least. But at the same time, Stochastic reflects clear oversold case, while RSI approaches oversold areas. Therefore, we remain neutral in our weekly report and recommend reviewing our next reports, awaiting further confirmation regarding the pair's next move. The trading range for this week is among the major support atMon, 16 Jan 2012 07:04:24 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-16.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-13.htmlEUR/USD The pair inclined in attempts to confirm the breakout of the main descending channel and consolidation above the exponential moving averages 20 and 50 again. Stochastic is within overbought areas, but RSI is currently biased to the upside, approaching overbought areas. Consolidation above the level of 1.2830 suggests an upside move today, but stability above 1.2875 is required to confirm that suggested move. A breach of 1.2795 and consolidation below it could negate our bullishFri, 13 Jan 2012 08:02:03 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-13.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-12.htmlEUR/USD The decline seen stopped in areas around the support level of 1.2665, while the pair didn’t provide any 4-hour closing below this level, which confirms the importance of this level to determine the pair's next move. Currently, the upside move is still available, as we expect the pair to attempt breaching the level of 1.2795 in order to head towards higher areas. Stochastic is less negative, while RSI is positive. These factors together drive us to expect another bullish attempt today.Thu, 12 Jan 2012 06:46:46 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-12.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-11.htmlEUR/USD The pair declined again after it failed to settle above areas of 1.2795. But, Stochastic approaches oversold areas quickly, while the level of 1.2665 remains intact. Therefore, we expect the pair to provide another bullish attempt today as long as stability is seen above 1.2665. The trading range for today is among the major support at 1.2535 and the major resistance at 1.3000. The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135 **New YorkWed, 11 Jan 2012 07:59:05 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-11.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-10.htmlEUR/USD The pair is currently trading around the EMA 20 and also around the pivotal resistance level of 1.27959 mentioned in our weekly report. The current areas represent critical barrier that separates between the resuming the upside move towards the main resistance of the descending channel at 1.2875, or the return of the downside movement which could support the pair to retest areas around 1.2665. Stochastic is within overbought areas, but RSI is positive and attempts now to reach theTue, 10 Jan 2012 06:41:45 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-10.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-09.htmlEUR/USD The pair rebounded to the upside after reaching areas around 1.2665, which represents 261.8% Fibonacci projection as shown above on the chart. Stochastic and the RSI 14 are within oversold areas, which could trigger another upside correctional wave that could support the pair to retest areas around 1.2795 and maybe 1.2875. But, after reaching these areas, we should remain neutral, waiting for more confirmations. A breach of 1.2665 should negate any upside correction. The trading rangeMon, 09 Jan 2012 07:21:14 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-09.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-06.htmlEUR/USD The pair declined again, and it is currently stable below 1.2790, which represents 224% Fibonacci of the bullish wave that started at the level of 1.2945 and ended at 1.3198. Consolidation below the mentioned level suggests the extension of the downside movement towards 161.8% Fibonacci at1.2665, supported by the negativity seen on MACD. The trading range for today is among the major support at 1.2535 and the major resistance at 1.3000. The short-term trend is to the upside with steadyFri, 06 Jan 2012 07:20:07 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-06.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-05.htmlEUR/USD The pair declined sharply to trade again within the descending channel and below the exponential moving averages 20 and 50, which indicates that the upside correction was limited. But, Stochastic is negative now, while the pair didn’t provide any 4-hour closing below 1.2900. Therefore, we will stay aside today, waiting for more confirmations regarding the end of the correction, and to make sure that the pair will not settle above 1.3000 again. The trading range for today is among theThu, 05 Jan 2012 06:56:32 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-05.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-04.htmlEUR/USD The pair is stable above 1.3000, which represents 161.8% Fibonacci and the exponential moving average 50. Furthermore, the pair breached the main resistance of the downside movement, which indicates that the pair could perform an upside correction, taking the pair towards 1.3120 and maybe 1.3210. The negativity seen on Stochastic could trigger heavy fluctuations during the upside correction. The trading range for today is among the major support at 1.2720 and the major resistance atWed, 04 Jan 2012 07:14:03 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-04.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-03.htmlEUR/USD Currently, the pair is trading around the critical resistance of the downside movement, which meets the exponential moving average 50 and 161.8% Fibonacci as shown above on the chart at 1.3000.The downside movement could control the pair’s movement again, affected by the mentioned levels. Stability below 1.3120 is required for our negative outlook to prevail. The trading range for today is among the major support at 1.2720 and the major resistance at 1.3220. The short-term trend is toTue, 03 Jan 2012 06:57:14 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-03.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-02.htmlEUR/USD With the start of this year, the pair is still stable below the critical resistance of the downside channel and also below the exponential moving averages 20 and 50. In addition, Stochastic is still negative, which drives us to expect that the pair could provide another bearish attempt this week. Consolidation below 1.3120 is necessary, while stability below the resistance at 1.3000 is required for our negative expectations to prevail. The trading range for this week is among the majorMon, 02 Jan 2012 07:31:17 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2012-01-02.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-30.htmlEUR/USD The pair inclined slightly yesterday, but it wasn’t able to settle above 1.3000, where consolidation below the mentioned level suggests the extension of the downside move. Stochastic is within overbought areas, and attempts now to provide a negative crossover which supports our bearish outlook. The trading range for today is among the major support at 1.2720 and the major resistance at 1.3220. The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135Fri, 30 Dec 2011 07:17:50 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-30.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-29.htmlEUR/USD The decline seen yesterday has sent the pair below the level of 1.3000; this move suggests the extension of the downside movement, where stability below the above mentioned level should support the descending channel to remain effective. MACD is negative, but momentum indicators are turning positive, which could trigger heavy fluctuations through the session today. The trading range for today is among the major support at 1.2720 and the major resistance at 1.3220. The short-term trendThu, 29 Dec 2011 08:27:25 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-29.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-21.v02.htmlEUR/USD The decline seen yesterday confirmed the continuous effect of the descending channel. Today, the pair is stable in areas below the exponential moving average 20. A breach of 1.3000 and stability below it could confirm the extension of the downside movement, where consolidation below this level is required as Stochastic is within oversold areas and a breach of this support should negate the positivity seen on momentum indicators. The trading range for today is among the major support atWed, 21 Dec 2011 07:35:55 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-21.v02.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-21.htmlEUR/USD The pair resides now the exponential moving average 50 and 127.2% Fibonacci correction as shown above. Stochastic approaches overbought areas, while the positivity seen on the relative strength index started to weaken. These facts prove the continuous effect of the descending channel, where the channel’s main resistance stands at 1.3210 and any trading below this level suggests the return of the downside movement. A breach of this level could postpone the downside movement over intradayWed, 21 Dec 2011 07:33:45 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-21.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-20.htmlEUR/USD The pair is trading narrowly in areas around 161.8% Fibonacci of the correctional upside move, which started from 1.3211 and ended at the bottom of 1.3548, where this level stands at 1.3000. Stochastic attempts to provide a positive crossover, while the Relative Strength Index is unable to reflect clear positivity. The pair is also unable to settle above the exponential moving average 20, but at the same time, consolidation below 1.3000 is required to confirm the downside movement.Tue, 20 Dec 2011 07:30:45 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-20.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-16.htmlEUR/USD The pair is stable below the Exponential Moving Average 20, while the slight incline seen was able to relieve the positivity seen on Stochastic, which is currently approaching oversold areas. We expect the pair to extend the downside movement, where the pair is affected by the descending channel shown above on the chart. Consolidation below 1.3000 again should support the pair to extend the bearishness. The trading range for today is among the major support at 1.2790 and the majorFri, 16 Dec 2011 07:50:47 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-16.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-15.htmlEUR/USD With the breach of the psychological barrier at 1.3000, the pair could extend the downside movement towards the main support of the descending channel. Areas between 1.2875 and 1.2790 are reachable now, where these levels reside the descending channel’s main support as shown above on the chart. The RSI is within oversold areas, while Stochastic is turning positive, but consolidation below 1.3000 supports our bearish outlook strongly. The trading range for today is among the majorThu, 15 Dec 2011 07:01:45 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-15.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-14.htmlEUR/USD As we mentioned before, consolidation below 1.3270 and 1.3220 is negative and could trigger a downside movement, and this is what happened indeed, as we can see the pair confirmed the descending channel which could trigger more bearishness. But, the pair is facing the psychological level of 1.3000, where a breach of this level is required to confirm the resumption of the downside movement, especially when momentum indicators are excessively oversold. Therefore, we expect the downsideWed, 14 Dec 2011 07:28:33 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-14.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-13.htmlEUR/USD The pair failed to settle above the level of 1.3380, and then breached 1.3270, which led us to negate our positive outlook and recognize the descending channel that controlled the pair’s movement from the top at 1.4247. Now, momentum indicators are within oversold areas, but consolidation below the main resistance of the descending channel at 1.3380 drives us to expect a downside movement today in an attempt to breach 1.3145 and then moving south towards areas around 1.3000 passingTue, 13 Dec 2011 08:33:35 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-13.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-09.htmlEUR/USD The decline seen yesterday was not able to provide any 4-hour closing below 1.3315, and also the pair didn’t consolidate below 1.3270. The upside move is expect to return in case the mentioned areas remain intact, but in general stability above 1.3380 is required to confirm the return of the upside move. The trading range for today is among the major support at 1.3080 and the major resistance at 1.3560. The short-term trend is to the upside with steady daily closing above 1.2795Fri, 09 Dec 2011 08:02:30 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-09.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-08.htmlEUR/USD The pair traded within narrow levels during the Asian session today and also during yesterday’s session, where the pair is stable in areas around 78.6% Fibonacci correction of the upside wave, which started from the bottom of 1.3145 and ended at the top of 1.4247. We still expect an upside move today, but 4-hour closing above 1.3435 is required. A breach of 1.3270 and 4-hour closing below it could be sufficient to negate the upside move over intraday basis. The trading range for todayThu, 08 Dec 2011 07:00:23 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-08.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-07.htmlEUR/USD As we mentioned in our previous report, we indicated that we need for 4-hour closing above 1.3435 in order to confirm our positive outlook; however, the pair didn’t provide this closing. But, as long as the pair is stable above 78.6% as shown above, we will wait for the mentioned closing above 1.3435 which if seen could trigger an upside move today. Our bullish expectations depend on the falling wedge pattern, which is a bullish pattern shown above on the chart. The trading range forWed, 07 Dec 2011 07:03:51 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-07.htmlhttp://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-06.htmlEUR/USD The decline seen yesterday could affect our weekly expectations released yesterday, where we recognize a bearish technical structure on the chart, while consolidation below the exponential moving average 50 could activate the bearish structure that could trigger a downside movement today. At the same time, the falling wedge pattern –Bullish structure- is still valid. Therefore, due to the technical conflict seen we prefer to remain neutral today, awaiting more confirmations regardingTue, 06 Dec 2011 06:54:18 GMThttp://www.fxstreet.com/technical/market-view/support@ecpulse.com (ecPulse.com)http://www.fxstreet.com/technical/market-view/technical-major-currencies-report/2011-12-06.html