Forex News EUR/USD

Thanks!

As for today's development - the pair dropped to 1.1100 after the fundamentals but then bounced off from that level and we're left with another whipsaw, as usual.

 

EUR/USD continues moving south for now and it is about to test 1.1100. I am not sure whether there will be a breakout this week though.

 

Will it bounce nextweek?
Is it good to buy?

 

It's still testing 1.1110, I am not opening another short without a proper breakout.

 

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

 

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

 

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

 

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

 

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.

 

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.

 

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

 

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.

 

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

 

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

 

EUR/USD is rising back up towards 1.1230 but so far there has been no breakout below or above the consolidation. I doubt it will happen today.

 

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

 

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

 

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

 

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

 

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