papia09 Posted October 12, 2021 Posted October 12, 2021 According to one hour chart for eur/usd pair is now trying to recover some pips from the last few weeks so if this bears some positive news for ECB then hopefully EUR will gain more pips where resistance will be 1.1620
mlawson71 Posted October 12, 2021 Posted October 12, 2021 As I thought, the move south continues, there wasn't even a retracement before that. Next target, I think, is around 1.1500, but it will likely break out below that level too.
mlawson71 Posted October 13, 2021 Posted October 13, 2021 It found some support at 1.1520, but I think after some correction it will keep falling. It has broken below every major support so far and the way down is clear.
mlawson71 Posted October 14, 2021 Posted October 14, 2021 It bounced off from 1.1525 and we may see some correction, but I think it remains bearish for now.
mlawson71 Posted October 15, 2021 Posted October 15, 2021 It's consolidating after the big drop, but I doubt we will see any big changes this week before the market closes.
mlawson71 Posted October 18, 2021 Posted October 18, 2021 It's forming a correction at the moment, I think next target would be around 1.1630.
mlawson71 Posted October 19, 2021 Posted October 19, 2021 It climbed to 1.1670 and pulled back from that level, although I doubt the correction would be this shallow.
mlawson71 Posted October 20, 2021 Posted October 20, 2021 The move north is continuing for now, I think it may reach 1.1670. Let's see if it will form a double top at that level.
mlawson71 Posted October 21, 2021 Posted October 21, 2021 It formed a double top around 1.1670, I think it will likely drop again as part of the correction.
mlawson71 Posted October 22, 2021 Posted October 22, 2021 I was expecting a move south after the double top around 1.1670 but it's clearly stuck in a sideways consolidation for now. We'll see how it develops next week.
mlawson71 Posted October 23, 2021 Posted October 23, 2021 Let's see whether next week the move south will continue.
mlawson71 Posted October 25, 2021 Posted October 25, 2021 It's pretty bearish as I thought it would be, I think it will likely drop to 1.1550 next.
mlawson71 Posted October 26, 2021 Posted October 26, 2021 It bounced off from 1.1590, so for now the consolidation continues. I still think the overall trend is bearish though.
mlawson71 Posted October 27, 2021 Posted October 27, 2021 It is quite bearish again today, but it is yet to break out below 1.1600 properly. I think it is a matter of time though.
mlawson71 Posted October 28, 2021 Posted October 28, 2021 I was convinced the move south would continue but clearly the correction is not over yet and I was wrong. It looks like next target is around 1.1700.
mlawson71 Posted October 29, 2021 Posted October 29, 2021 Now it's back to 1.1570, the consolidation clearly continues. I doubt it will end this week.
mlawson71 Posted October 30, 2021 Posted October 30, 2021 Let's see whether the consolidation will continue into next week.
mlawson71 Posted November 1, 2021 Posted November 1, 2021 As I thought, the consolidation continues. Next target is likely at 1.1600.
mlawson71 Posted November 2, 2021 Posted November 2, 2021 I think once the results of the Fed meeting become clear we will see a clear direction. Until then we'll just have to sit and wait.
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