The document provides a technical analysis of the EUR/USD currency pair. It summarizes that: 1) The EUR/USD pair is in a long-term upward trending channel near its lower boundary and various short and medium-term trends within this channel are pointing downward. 2) In the short-term, the pair remains in a downward mode and needs to close above resistance at 1.30 to confirm an exit from bear dominance. 3) Key support lies at 1.0722 and resistance at 1.09, with volatility expected between these levels until one is broken.

1. EUR/USD
Technical Analysis Report – 21st March 2017 – Short term review

2. Current price chart

3. Where are we on the long term chart? – Chart 1

4. Where are we on the long term chart? – Chart 2

5. Where are we on Long Term chart?
 EURUSD is in a long term upward trending channel. At present we are hovering
near the lower line of the long term trend (blue line in chart 1). Charts reveal that
the currency pair is trying to bounce from fall happened since start of 2014.
However, there are no confirmations of revival in the charts. So, we could
tentatively say that we are not out of the worst times.
 Zooming in the long term chart (Chart 2), there are few minor trends (shown in
the chart) within the major long term trend which are pointing downwards.
Hence, it is prudent for a continuous trader to keep in mind that the pair is
skewed downwards with possible bounce back happening haphazardly.

6. Where are we on the short term chart? – Chart 1

7. Where are we on the short term chart? – Chart 2

8. Where are we on Medium Term chart?
 In the short term, EURUSD is in a downhill mode. Though most of the downsides
seem to be over (fall since start of 2014), we are yet to get confirmations in the
chart.
 We broke the neckline (Head & Shoulder pattern – highlighted in green in chart
1) in the start of 2015 and we are yet not out of the worst times. This is in
concurrence with the long term chart as well.
 A closer look at the short term chart (chart 2) confirms a channel under
formation. The price is trying to breach the channel as well. If the price breaches
the channel, the tentative price target could be neat 0.99 level.
 We could witness turbulent bounce backs from here. Unless the pair closes above
1.30, which is way too far from here, we are in the dominance of bears where
every rise is a sell.

9. Where are we on the daily chart?

10. Where are we on daily chart?
 The daily chart is also confirming the channel formation which is shown in the
short term chart. The price, which had breached the channel since few trading
sessions seems to trying back to get inside the channel.
 The immediate resistance could come from the falling trend line (Orange dotted
line) which is near 1.09 level. Traders could watch this level for getting into a
stable mode of the pair.
 Failure to trade past the trend line would result in breaching the channel again to
drift near 0.99 level.

11. Trading opportunities
 For now, 1.09 holds the key for Bulls at entry level. A move above 1.09 could be used for
initiating long positions with resistances at 1.0968, 1.1093, 1.1107, 1.1212, 1.1293 and
1.1303.
 Any failure to move past 1.09 is an advantage for bears. Short traders could look in for the
downside supports at 1.0722, 1.0633, 1.0437, 1.0298, 1.0145 and 1.0040.
 Volatility could be seen between 1.09 and 1.0722. Traders shall have to maintain their
patience until the price disobeys 1.09 and 1.0722.
Disclaimer: This report is neither an offer nor a solicitation to purchase or sell securities. The information and views expressed herein are based on Technical Analysis, but
no responsibility (or liability) is accepted for errors of fact or opinion. Contributor may be trading in or have positions in the securities mentioned in this article. Contributor
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