Euros had a down day yesterday and took out 1.1170 just...we have managed to climb back above it we have added to longs at 1.1177 and we await today's action...You can feel that the market is I would think that because of this...and also we have had a down week, that there should be some short covering today as no one really wants to ride a position over the weekend...

So I will keep our longs until tonight and see how the US plays it this evening...If I am right we should see a move back above 1.1190 and that would lead us onto 1.1245 where we would then be covering longs..

I don't believe there is any value in running over the weekend, we will wait until Monday again to take advantage of any moves Sunday night/Monday morning have to offer...

I think that really Euros need to make a break through 1.1260 to ease ant further downside moves...Virtually all times frames to the 4H chart are oversold...although the dailies are still pointing lower currently...but Weekly and Monthly charts are very oversold...and although I don't think 1.25 on Monday is an option...I do think that in reality the market has to address these longer term indicators...Now if 1.1160 breaks we have the 1.1118 area and that would provide a DB on the daily charts and the market should recover from these lower levels...



EURUSD Current Trading Positions

Sell 69%
Buy 31%
Avg Sell Price 1.1197
Avg Buy Price 1.1194
Liquidity Distribution


The research provided by Charmer Charts is provided solely to enable clients to make their own investment decisions and does not constitute personal investment recommendations. No recommendations are made directly or indirectly by or Charmer Charts as to the merits or suitability of any investment decision or transaction that may result directly or indirectly from having viewed the technical analysis investment research. Customers are therefore urged to seek independent financial advice if they are in any doubt. The value of investments and the income derived from them can go down as well as up, and you may not get back the full amount you originally invested. Derivatives and foreign exchange trading are particularly high-risk, high-reward investment instruments and an investor may lose some or all of his or her original investment. Also, if you decide to acquire any investment denominated in a different currency you should note that changes in foreign exchange rates may have an adverse effect on the value, price and income of the investment in your own currency. or Charmer Charts shall not be liable for any direct or indirect, incidental or consequential loss or damage (including loss of profits, revenue or goodwill) arising from the use, inability to use, interruption or non-availability of the technical analysis investment research or any part of the research materials published or otherwise any loss of data on transmission, howsoever caused. Whilst the research material published is believed to be reliable and accurate, it is not independently verified. Accordingly, no representation or warranty is made or given by or Charmer Charts, its officers, agents or employees as to the accuracy or completeness of the same and no such person shall have liability for any inaccuracy in, or omission from, such materials.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD: Under pressure below 1.1245 while consolidating Dollar's resurgence

EUR/USD dropped from 1.1260 to just above 1.1200 overnight. The markets continued to price 31bp of easing at the 31st July meeting though Fed funds futures for 2020 rose about 3bp in implied yield.


GBP/USD stabilizes around 1.2400 after the slump to 27-month low

Having plummeted to a 27-month low, GBP/USD recovers to 1.2410 during early Wednesday. British inflation numbers, political plays should be followed by fresh impulse.


USD/JPY rejected at 200-hour MA amid losses in Asian equities

USD/JPY is currently trading near 108.15, having faced rejection at the 200-hour moving average of 108.33 earlier today. The JPY is bid, possibly due to losses in equities. Also, Fitch Ratings' affirmation of Japan's rating at 'A' buoys the Yen.


UK CPI Preview: Brexit above all else

The monthly change in the consumer price index is expected to be flat in June down from 0.3% in May. The annual rate is predicted to be unchanged at 2 %. The core CPI rate is forecast to be flat in June, after gaining 0.2% in April.

Read more

Gold: Bulls are in the safe-zone, but are barely holding on

The 1400 psychological level is holding up which is just as well for the bulls, as a couple of dollars, a break of the 23.6% Fibo of the latest swing lows and highs could open up an onslaught to the downside.

Gold News