Forex News EUR/USD

[mlawson71]

GBP/USD is depreciating hard but EUR/USD is still stuck in its consolidation, let's see how long it will last.

 

[mlawson71]

The fundamentals pushed the pair below 1.1100 finally. It found some support at 1.1025 but it will probably continue depreciating.

 

[mlawson71]

It formed a very impressive hammer candlestick at 1.1025 on the daily time-frame, it looks like it is time for some correction.

 

[mlawson71]

The move north did begin as I thought it would, next target will likely be around 1.1200 again.

 

[mlawson71]

As I thought, EUR/USD rallied this week. It is already at 1.1200 and it will likely break out above it and continue towards 1.1300.

 

[mlawson71]

EUR/USD pulled back from 1.1250 and it's obvious the range is still in place but I think we will see it rallying again.

 

[mlawson71]

The move north continues as I thought, I wouldn't be surprised if it reaches 1.1300.

 

[mlawson71]

EUR/USD did form a very noticeable spinning top on the weekly time-frame at 1.1025, so I think the current move north may not be short-lived.

 

[mlawson71]

There's a downward consolidation below 1.1250 but I think that is just in preparation for the next move north.

 

[mlawson71]

In my opinion, the consolidation will probably continue through Monday before the pair begins another move north.

 

[mlawson71]

No end of the consolidation in sight, hopefully the fundamentals by the end of the week will have some effect on it.

 

[mlawson71]

It's clearly very bearish after over a week of consolidation. Let's see whether it will drop below 1.1000 too.

 

[mlawson71]

EUR/USD testing 1.1070, maybe it will finally break out below that level and continue towards 1.1000.

 

[mlawson71]

Well, so much about EUR/USD breaking out below 1.1070 this week. Hopefully next week the move south will continue.

 

[mlawson71]

EUR/USD may continue falling this week but for now it is stuck in a sideways consolidation as it often happens on Mondays.

 

[mlawson71]

It's still consolidating at the support at 1.1080, I am starting to suspect it may form a double bottom there, which means there may be a new move north.

 

[mlawson71]

It formed a clear double bottom after all. I think it will start rising again towards 1.1200.

 

[mlawson71]

The pair is still stuck at 1.1070, hopefully the fundamentals by the end of the week will end this consolidation.

 

[mlawson71]

It seems to be attempting to break out below the double bottom at 1.1050. If it does we will likely see it dropping below 1.1000.

 

[HS3SSJ]

Looks like it's coming down to GAP on April 2017.