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OUTLOOK: Price Signal Summary - Bear Flag In EURUSD

OUTLOOK
CEEMEABulletUKMarketsFixed Income BulletsForeign Exchange Bullets
  • In FX, short-term gains in EURUSD are considered corrective - for now - and the trend direction remains down. The latest pause appears to be a bear flag - a bearish continuation pattern. Note too that moving average studies remain in a bear-mode position, highlighting a dominant downtrend. Sights are on 1.0484 next, the 1.00 projection of the Sep 25 - Oct 23 - Nov 5 price swing. Initial firm resistance to watch is 1.0728, the 20-day EMA.
  • The trend condition in GBPUSD remains bearish and the pair is trading at its recent lows. Moving average studies are in a bear-mode set-up, highlighting a clear downtrend. A recent support at 1.2665, the Aug 8 low, has recently been cleared, paving the way for a move towards 1.2568, the 76.4% retracement of the Apr 22 - Sep 26 bull cycle. Initial firm resistance to watch is at 1.2844 the 20-day EMA. A short-term bounce would be considered corrective.
  • The USDJPY trend condition remains bullish and the latest pullback appears corrective. Price has remained above support at the 20-day EMA, at 153.20. Moving average studies are in a bull-mode position highlighting a dominant uptrend and sights are on 156.88 next, a 2.236 projection of the Sep 16 - 27 - 30 price swing. On the downside, a clear breach of the 20-day EMA would signal the start of a stronger corrective phase.
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  • In FX, short-term gains in EURUSD are considered corrective - for now - and the trend direction remains down. The latest pause appears to be a bear flag - a bearish continuation pattern. Note too that moving average studies remain in a bear-mode position, highlighting a dominant downtrend. Sights are on 1.0484 next, the 1.00 projection of the Sep 25 - Oct 23 - Nov 5 price swing. Initial firm resistance to watch is 1.0728, the 20-day EMA.
  • The trend condition in GBPUSD remains bearish and the pair is trading at its recent lows. Moving average studies are in a bear-mode set-up, highlighting a clear downtrend. A recent support at 1.2665, the Aug 8 low, has recently been cleared, paving the way for a move towards 1.2568, the 76.4% retracement of the Apr 22 - Sep 26 bull cycle. Initial firm resistance to watch is at 1.2844 the 20-day EMA. A short-term bounce would be considered corrective.
  • The USDJPY trend condition remains bullish and the latest pullback appears corrective. Price has remained above support at the 20-day EMA, at 153.20. Moving average studies are in a bull-mode position highlighting a dominant uptrend and sights are on 156.88 next, a 2.236 projection of the Sep 16 - 27 - 30 price swing. On the downside, a clear breach of the 20-day EMA would signal the start of a stronger corrective phase.