eur/usd EUR/USD

[papia09]

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]

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]

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]

It bounced off from 1.1525 and we may see some correction, but I think it remains bearish for now.

[mlawson71]

It's consolidating after the big drop, but I doubt we will see any big changes this week before the market closes.

[mlawson71]

Let's see how it will develop next week.

[mlawson71]

It's forming a correction at the moment, I think next target would be around 1.1630.

[mlawson71]

It climbed to 1.1670 and pulled back from that level, although I doubt the correction would be this shallow.

[mlawson71]

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]

It formed a double top around 1.1670, I think it will likely drop again as part of the correction.

[mlawson71]

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]

Let's see whether next week the move south will continue.

[mlawson71]

It's pretty bearish as I thought it would be, I think it will likely drop to 1.1550 next.

[mlawson71]

It bounced off from 1.1590, so for now the consolidation continues. I still think the overall trend is bearish though.

[mlawson71]

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]

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]

Now it's back to 1.1570, the consolidation clearly continues. I doubt it will end this week.

[mlawson71]

Let's see whether the consolidation will continue into next week.

[mlawson71]

As I thought, the consolidation continues. Next target is likely at 1.1600.

[mlawson71]

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.