eur/usd EUR/USD

[mlawson71]

EUR/USD rallied above 1.1050 and reached the resistance at 1.1085, let's see whether it will break out above it too.

[mlawson71]

It formed a spinning top below 1.1085 but that does not necessarily mean a reversal. The move to the upside may still continue.

[mlawson71]

EUR/USD closed at 1.1025 below the spinning top, but the move north may still continue next week.

[mlawson71]

I wouldn't touch this pair until the current consolidation finally ends.

[mlawson71]

Sideways consolidation continues for now. It looks like it will be another slow Monday for EUR/USD.

[mlawson71]

It's forming multiple spinning top and shooting star candlesticks around 1.1085 on the daily time-frame, the move south may continue after all.

[mlawson71]

EUR/USD began depreciating as I thought it may, but it's yet to break out below the last low at 1.0925. Let's see whether it will do that or form a double bottom.

[mlawson71]

It formed a double bottom after all, at 1.0925. There will likely be a new move north.

[mlawson71]

EUR/USD found some resistance at 1.1110 but I think next week the pair will likely continue moving north.

[mlawson71]

It closed slightly below 1.1100. But, as I said, I think we'll see a new rally next week.

[mlawson71]

The market opens again today, let's see whether EUR/USD will continue moving to the upside.

[mlawson71]

So much about a new rally, it bounced off from 1.1100 and by the looks of it the pair may retest the double bottom at 1.0925.

[Dalton33]

Malwson, thank you for starting this thread. I find it very informative as EURUSD is one of the most traded currencies. I am also following your levels in order to check my analysis. I am happy that we have same views on the future development of this currency pair. I also see it below $1.1

[mlawson71]

Sideways consolidation apparently continues. Next target is likely around 1.1050.

[mlawson71]

It did reach 1.1050 and is currently consolidating around that level. That consolidation likely won't end before the fundamentals tonight.

[mlawson71]

The pair is stubbornly testing the resistance around 1.1050 - 1.1070, and even if it breaks out above it there is another resistance at 1.1110 which needs to be overcome for it to continue rallying.

[mlawson71]

It's testing the support at 1.1015 but the sideways consolidation clearly continues. I don't think there will be a breakout in either direction by the time the market closes today.

[mlawson71]

As I thought, there was no breakout for EUR/USD. Hopefully we'll finally see an end of the consolidation next week.

[mlawson71]

Let's see how it will develop next week.

[mlawson71]

The support at 1.0965 remains unbroken, and even if EUR/USD does break out below it the pair will also have to break out below 1.925 in order to continue depreciating.