2013.11.11 | EURUSD Market Analysis
EURUSD Trends & Fibonacci Retracement Levels
The EURUSD currency pair has been rising in forex market trading today with the EURUSD registering a high of 1.34058 and a low of 1.33439 on the day. The EURUSD had been on a 2 day losing streak after last week’s ECB rate cut and better-than-expected upbeat US economic data. Trends data shows the pair is currently in a short-term downtrend as prices are trading under our favored short-term moving average. Over the longer term trend, as seen on the chart by the 90-day Linear Regression Channels, the pair continues to be in an uptrend although prices have deviated to outside our channels which is seen as an extreme position compared to the trend.
EURUSD Trends Data: Linear Regression Indicator
10-day current trend is BEARISH / Trend strength of -461.6 pips
30-day current trend is BEARISH / Trend strength of -42.1 pips
60-day current trend is BULLISH / Trend strength of 405.4 pips
90-day current trend is BULLISH / Trend strength of 590.0 pips
180-day current trend is BULLISH / Trend strength of 719.1 pips
Fibonacci Retracement Levels over last 100 Days
— 0.000 – 1.38316
— 0.236 – 1.35774
— 0.382 – 1.34201
— 0.500 – 1.32930
— 0.618 – 1.31659
— 0.764 – 1.30086
— 1.000 – 1.27544
By CountingPips.com – Forex Trading Apps & Currency Trade Tools
Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.
