Forex News EUR/USD

[mlawson71]

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.

 

[mlawson71]

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.

 

[janv1802]

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?

 

[mlawson71]

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

 

[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]

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.

 

[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.