EUR/USD from the 10 December @14h00 Paris time

Daily

We are still inside the triangle, but on the resistance . Markets seems to go further, but could be capped by the top @1.3080 and 1.3105 which is the EMA50 (yellow).

In the case of we break 1.3080, the next reisistance is at 1.3260-80 and if the uptrend is following then it could be the way to 1.3870.

In the case of eurusd is going to fell then we are going to see 1.2490 and lower to 1.2120 1.1930 if we break it.

From Ichimoku, the 2 sen crossed (Red and Blue) to the upside but are working under the cloud, as the rates.The Chinkou Span (white) is under the cloud, but it s on the rates. It confirm wa are still in a bear trend.

The moving average are showing a bear trend too, the EMA 50(yellow) is at 1.3102 and last time we reached it, we had a huge bounce back to the main trend. EMA 200(grey) is at 1.4160.

MACD is close to his neutral point and RSI is going out from his oversold territory.

Be long at 1.2970 objective 1.3080,

Our monthly point are giving to us to be

Long at 1.3090 SL 1.2890 for an objective at 1.3480

Be short 1.2890 SL 1.3090 with a target @1.2120

Resistance 1.2970 1.3095 1.3116 1.3280

Support 1.2890 1.2800 1.2670 1.2550

Weekly

EUR/USD made probably a temporary low @1.2329, the week from October 26th, from this time we have been working inside a triangle in testing resistance, and support.

If we break 1.3080 market seems to take the way to 1.3260/80 and as main major target 1.3870. This points is the 61.8% Fibo retracement from 1.4867 (09/21/08) and 1.2329(10/26/08).

The 2 Sen are showing us a bear trend, the span seemed to have bounce but is still below both cloud and rates.

The 2 EMA are still showing a bull trend even if the spread between both have strongly tightening.

The Rsi is trying to get out from the oversold area. MACD seemed to have found a bottom.

But have to wait to see from which side the triangle is going to be broken.

Monthly

We made a doji last month, could indicate an hold on the downside, or the end of the current movement. We bounced on the top of the Ichimoku cloud, we are forming a morning star. If this morning star is working, could bring back the rates much higher than what we are expecting.

The 2 Sen are crossing, but are above the cloud.

The trend is still an uptrend.

If we break 1.3080, then we could have the opportunity to bounce toward 1.3768(38.2%) Fibonacci, 1.4192(50% of Fibo). This level is also the point where the long term trend(pink) from February 2001 then the low from November 2005.

The dow theory is telling that we need to test important resistance to validate them.

In the other case, if we don't arrive to break 1.3080 or 1.3260 we could see a last wave to the downside with 1.1920(EMA 200) as target, and then 1.1640.

EMA50 and 200 are still showing a bullish signal, even if we reached probably the inflexion point

MACD is close to his neutral area after fast bounce from high. Rsi went out from his overbought territory last august and is at the neutral area.

I took a long position @1.2970 with 1.2890 as Stop Loss. I have put my SL at my price now.