EUR/USD Daily Chart Update 15012014

As expected this pair has resumed its bearish trend after retrace and rejection of 1.36700 level. This level is rejected by bearish Fakey which today is followed by Daily Bearish Breakout Bar.

Although Daily chart close is few hrs away price has clearly broken 1.36200 level which it is likely to retest.

Target

Bearish FIB 61.8 level is rejected and the target will be 161.8 FIB level i.e. around 1.33200.

EUR/USD Weekly Analysis 6th January 2014

Eur is looking weak across all pairs. Although this pair has not broken last Low of 1.33700 yet. I'm bearish on this pair for below reasons.

Pair couldn't break past monthly resistance level @ 1.38.
Double top is created on weekly chart at 1.38 level.
Bearish breakout bar of last week clearly indicates change in direction. You can see same bearish breakout bar on EUR/GBP, EUR/AUD, EUR/NZD, EUR/CAD.

Although I'm long on this pair from 1.36100 level. I will be looking to close my longs at 1.36700 and enter short at same level for a target of 1.33800.

First day of year 2014 and my first post on currency analysis. My analysis would purely be based on technicals.

Eur/Usd : This pair is hovering around big resistance and Bearish FIB level of 38.2 which is at 1.38400.
 If price closes above this level on monthly chart, Pair would continue its bullish run.

As pair is still bullish on weekly and Daily charts buying on pullbacks at below levels is advisable.

1.36
1.34900
1.33700

Shorts trades can be considered only after Break and rejection of support at 1.35600 on weekly and monthly chart.