Today looks intraday flat, gap filling is not happening yet. We have few news from the US today, maybe there will be break out or break down opportunities, let’s see.
I think that EUR/USD might find a bottom today and go higher.
I think the price is near rock bottom, I don’t trust that the price will go far in the downtrend.
EURUSD tried to rally initially during yesterday session, but the 1.32 area has offered resistance once again. The market seems like it’s ready to continue the move downwards, especially considering that the candle closed near the low of the day. The market should head to the 1.3102, which is the next area of support made on September 2013 low.
Nobody knows the future, but in this video from Sep.2013
I had made a projection that the EUR/USD would reach and
bounce off the 1.38 level in Apr.2014 and that it would bottom
at the 1.22 level in Nov. 2015: the first projection was roughly
accurate, as in April we saw price averaging 1.38 (with a 1.37
low and a 1.39 high); the descent to 1.22 is a long way to come
but it is possible.
Thank you for the post Mr. PipMeHappy .
I remember your projection, 1.22 seems very possible and getting closer now.
The EURUSD rose during the course of last day session, testing the 1.32 level. Being an area of significant resistance, the gap lower that happened at the beginning of the week is still in effect and it should act as resistance, it should offer nice selling opportunities. So let’s get ready for Mr. PipMeHappy 1.22 low.
Let us get ready, indeed!!!
Personally, I think it will either form a double bottom and start rising again or it will break through the support level at 1.3250 continue its descent.
Both ways we will be watching and waiting for a break
Same name Same Strategy haha !!
The Euro has been resilient during the European morning, after the unchanged unemployment rate of Germany.
All European IPC’s remained unchanged or higher by 0.1 points over-year basis, indicating that the national inflation rate is also likely to remain unchanged or higher.
However, expectations of robust US data later in the day are likely to give a clear direction to the EUR / USD, if the predictions are right and if there is no occurrence of unanticipated events.
No clear direction on the EURUSD yet. Just waiting for something fundamentally important to move away from the 1.3200 level.
A brief reminder to all (especially traders outside North America) that
Monday (1st September) will see very low liquidity due to America being
out of the markets for its annual ‘Labour Day’ holiday…
EURUSD tried to close Mondays GAP rallying again during yesterday session, but yet again the 1.32 level has offered resistance. The US dollar looks like it’s still strong, and as a result selling the Euro is the less risky trade to do in this market.
I think EUR/USD is quite oversold but so far I am not seeing any signal that a more long-term correction is about to begin.
The euro held steady against the dollar in European morning after the unemployment rate in the eurozone remain unchanged in July and August CPI estimate conform to expectations. However, the fall in inflation to 0.3% yoy in August, the lowest level since November last year 2009, added pressure for the European Central Bank to introduce new stimulus measures, along with TLTROs expected at next week’s meeting. Recent weak data from the Eurozone, especially for its strong economy, have left no option for the ECB, but to act as fast as possible to reverse the negative sentiment and spur growth in the region.
we have again negative European data we will not see any uptrend or any long correction as long as the data are still negative
Thanks man. We can see profit collecting already, all ready for low volume and volatility on Monday.