Free Forex Trading Signals: EURUSD April 2014

It has been a while since our last Forex trading signal. The previous signal on EURUSD predicted a bullish market, and it proved accurate. The current TCI Forex signal also focuses on EURUSD. TCI forecasts the uptrend will continue, but the data does not show a clear, strong trend yet.

Forex Asset: EURUSD

• TCI Forecast: Uptrend continuation (↑) for two more trading days, followed by a correction (↓). See the TCI table below.

EURUSD Macroeconomic Outlook

Here are some key points about the Euro and the US Dollar:

High demand for the new 5-year Greek bond boosted confidence in the Eurozone. The $4.2 billion bond sale offered a 4.75% coupon, with 90% of bonds bought by long-term investors.

At the IMF spring meetings, Mr. Benoit Coeure, ECB executive board member, said: “The stronger the Euro, the more need for monetary accommodation.” He added that while the ECB does not target a specific Euro exchange rate, the Euro’s value is important because it directly affects inflation in the Eurozone.

Regarding the US Dollar, the Federal Reserve expects USD interest rates to remain stable until early 2015. This disappointed some investors who expected a rate increase in the first half of 2014.

EURUSD Technical Analysis

Last week, the Euro was strong against the US Dollar but failed to hold above the key supply level of 1.39.

• Short-term supply level: 1.393
• Short-term demand level: 1.386

Read more: Forex Trading Signals: EURUSD April 2014

Forex Trading Signals: EURUSD Outlook January 2014

In this analysis, we will examine EURUSD using basic technical analysis and the TCI model. At the end of this article, you’ll find the key news and events related to the Euro and the US Dollar for January 2014. But first, before diving deeper into the current Forex market conditions, let’s review our previous TCI signal on gold prices.

Previous TCI Signal on Gold Price

FOREX MARKET OUTLOOK JANUARY 2014 - EUR/USD

Currently, EUR/USD is trading at 1.3668. The euro recently recovered from five-week lows after comments by ECB President Mario Draghi. Historically, the euro tends to be weak against the US dollar in January. According to our research (2000-2013), the euro has averaged a -0.76% return versus the US dollar during January. In those 14 years, EUR/USD was bearish 8 times and bullish 6 times in January.

🔗 More » Check here TradingCenter Historical Research on EURUSD

Read more: Trading Signals: EURUSD Outlook January 2014

📶 Forex Trading Signals: The British Pound (GBP) against other Majors and EURUSD

In this TCI analysis, we will examine the British Pound (GBP) against other major currencies. Recently, the British Pound has performed strongly against all majors. Before presenting the current TCI results, let’s review our previous TCI signal on EURUSD.

In our previous TCI trading signal, we forecasted an upward trend for EURUSD. Specifically, we stated, “Based on TCI results, EURUSD is trading at oversold levels and will likely correct upwards early in the week ahead.”

At that time, EURUSD was trading at 1.34864. Today, EURUSD stands at 1.36929, confirming the TCI signal. Below, you will find what TCI forecasts for EURUSD over the coming weeks.

💱 The British Pound against Forex Majors

As mentioned, the British Pound has been a strong performer lately, but this rapid rise means it may now be technically overbought. The most likely scenario is a short-term correction for GBP. However, note that GBPUSD is currently at a key resistance level. If the British Pound manages to break through this resistance, a strong continuation of the trend could follow. Let’s examine what lies ahead for GBPUSD and EURGBP using the TradingCenter Indicator (TCI).

⚙️ TCI on GBPUSD -The British Pound against the US Dollar

• Currently: 1.67463

• TCI Forecast: POSSIBLE CORRECTING DOWNTREND FOLLOWED BY CONTINUATION

The following table shows the TCI results for GBPUSD over the coming calendar month.

Read more: The British Pound (GBP) against other Majors and EURUSD

📶 Forex Market is on the Move -TCI Forex Trading Signals GBPUSD and GBPJPY

In the past couple of weeks, volatility in the Foreign Exchange Market has skyrocketed. This is not unusual, considering we are entering December, which has historically been a highly volatile month over the last decade. Currently, the Forex market is experiencing very strong and extended trends, with the British Pound (GBP) leading the way. In particular, GBP is breaking through major resistance levels in pairs like GBPAUD and GBPJPY, surpassing barriers seen in recent years. Before diving deeper into these current trends, let’s review our last trading signal on EURUSD.

📄 Trading Center’s Previous Forex Trading Signal

It has been some time since our last Forex Trading Signal. At that time, we noted that EURUSD was trading bullish and likely to reach a new high. This did happen, although not within the timeframe we initially expected. Two key factors caused the delay: the ECB’s decision to lower Euro interest rates to 0.25%, and Standard & Poor’s downgrade of France’s credit rating from AAA to AA.

📈 Current Forex Trends – What Happens Next

Next, we will analyze the outlook for two major movers in the current market: GBPUSD and GBPJPY. The British Pound has been a clear leader recently,

Read more: Free Forex Trading Signals December 2013

Forex Trading Signals: EURUSD and EURAUD February 2014

In this analysis, we will evaluate EURUSD and EURAUD for February 2014 using the TCI technical analysis model. According to this report, EUR/USD has nearly completed a downtrend cycle and is likely to enter an uptrend correction in early February. Meanwhile, EUR/AUD has recently shown strong overbought signals and is currently undergoing a correction.

As always, before diving deeper into the current Forex market conditions, let’s review our previous trading analysis on EUR/USD published on January 10th, 2014.

Previous Forecast on EUR/USD → PRESS THE SLIDE-BAR

» Find the full EURUSD Analysis here...

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FOREX TRADING SIGNALS -FEBRUARY 2014

(I) EURUSD ANALYSIS

Currently: 1.3668 | Starting with statistics, and later presenting the TCI indications for EURUSD.

EURUSD Statistics for the Month of February 2014

According to TradingCenter.org analysis, during the past 13 years, the Euro against the US Dollar has usually been weak, as concerns the first two months of each year.

■ January, on average -0.76% {6↑ 8↓}

■ February, on average -0.29% {7↑ 7↓}

Read more: EURUSD and EURAUD February 2014

📶 Forex Trading Signals using Trading Center's Technical Analysis System (TCI)

🌐 EURUSD -The Euro against the US Dollar

Currently, EURUSD is trading at 1.34874, correcting from its recent high of 1.38314 reached on October 25, 2013. In two recent Forex Signal articles, we predicted that EURUSD would form a new mid-term high in late October, with the 23rd of October indicated as a possible date using TCI. In reality, EURUSD reached its high two days later, on October 25. Considering the forecast was made on October 13, this was a reasonably accurate prediction.

Using Price Action and TCI, we will now analyze what may happen next for EURUSD and AUDUSD.

📈 EURUSD Price Action

The current EURUSD price action is clearly bearish on both the H1 and H4 charts, with confirmation on the D1 chart as well. However, the longer-term charts, W1 and M1, still show a bullish channel that appears to be undergoing a correction.

It’s worth noting that November and December have historically been strong months for EURUSD. Based on daily data since 2000, here are some key statistics on EURUSD monthly returns:

■ November: +4.93% on average (7 bullish years ↑ and 6 bearish years ↓)

■ December: +20.7% on average (8 bullish years ↑ and 5 bearish years ↓)

Of course, these are just statistical trends and should not lead to hasty conclusions. Below is the TCI data table starting from October 18, including the forecast for the upcoming weeks.

Read more: Free Forex Trading Signals November 2013