EURUSD - A New Bear Market Is Born

Today I would like to present to your attention the EURUSD monthly chart. Interestingly enough, despite all the tensions and the so-called "FX wars", whatever this means, the EURUSD exchange rate has gone pretty much nowhere since February 2015, when the market dropped below 1.21, which market the beginning of a new bear market, after a broad range of consolidation, starting in 2008. The market is consolidating in a narrow range between roughly 1.05 and 1.15. The ex. support at 1.21 has now turned into resistance, and technically, I see room for correction to test the 1.21 resistance. The downside is to be calculated once a short position is triggered, but it would be roughly in the 0.87s. Standing by, awaiting further development.

EURUSD intraday technical analysis - bullish above 1.30

EURUSD outlook remains unchanged since yesterday - bullish and looking for a correction towards 1.30 before the next bounce up towards 1.3200. Below 1.2974 is bearish.
Pivot: 1.3075
Support: 1.3015 and 1.2974
Resistance: 1.3140, 1.3170, 1.3200

EURUSD intraday technical analysis - Good traders do trading, bad traders do gambling

The Economic Calendar for today is quite light so I don't expect any big movements in the EURUSD pair today, unless the usual suspects - the eurocrats - come out with some of their ridiculous sometimes comments and give some kick to this market.
From technical point of view the upside prevails and we're still in a strong bull trend but it seems like the pair is looking for a pullback to search for support around 1.30 ahead of further advance. The intraday pivot we should pay close attention is 1.3075.
The wise thing to do today is to wait for a pullback around 1.30 and look for confirmation that the support will hold to go long. However, short-term scalpers may find this great opportunity to steal about a 100 pips here to the downside but I personally do not advise anyone to bet against the major trend which is clearly up. Going against the daily trend (and in our case against the hourly too) is nothing but gambling. Good traders do trading, bad traders do gambling.

EURUSD intraday technical analysis - optimistic on EZ finance ministers' meeting

The EURUSD is in a strong bull move following the optimism of the EZ finance ministers' meeting today. The QE3 announcement yesterday by the FED chairman Ben Bernanke also added to the already strong Euro and I see no reason to change to bearish bias. The pair broke easily the 1.2994 ex support now turned resistance which is the 16.04.2012 low but this seems too good to be true and I think that the pair will go back to test for support around 1.30 before going up.