The EURUSD rose during the course of yesterday session, clearing the 1.25 level with an impulsive candle. This pair continues to consolidate around the 1.25level. We are looking for reversal candles in order to start selling again as the Euro continues to underperform.
Great analysis for the pair, thank you.
It looks like the EUR/USD correction might last a little longer. It appears it is headed for target 1.2670.
EUR / USD remains below the moving average of 50 periods and within the training symmetrical triangle.
There have been some attempts to break the short-term trend line, but not enough.
R3 - 1.26782
R2 - 1.26385
R1 - 1.25913
Daily Std. Pivot - 1.25516
S1 - 1.25044
S2 - 1.24647
S3 - 1.24175
FED is also worried about low inflation, according to the latest FOMC Minutes. The dollar suffered a setback immediate after the FOMC, decline against the EUR to 1.2599. It seems settle down at 1.2550 level, but it’s not over yet, bullish potential remains.
I am going long on the price 1.2630 is my target
We shall see the final reaction to FOMC minutes tomorrow, 1.26 would be psychological level to break.
EURUSD tried to rally during the course of yesterday, but ran out of steam at the 1.26 level and fell creating a shooting star. So a move below the 1.25 level is in fact a selling opportunity in this pair that most certainly is in a strong downtrend.
The reaction of the FOMC will make a huge move in the market I guess.
I think that EUR/USD might keep climbing until it reaches 1.2620, but the market is so uncertain at the moment that buying now would mean taking a considerable risk. Personally, I’d rather wait for a relatively reliable signal that the pair’s descent is about to continue.
very slow day today. and my buy position is open and I don’t see any change in the market to close it. 1.2630 target and waiting
I guess you are right, sherif fares. It was a slow day, I’m remain sideline for now.
The EURUSD is half way between the 1.25 and the 1.26 around 1.2550. A visit to the 1.2600 could give us another bounce to the downside and to the 1.2500 could give us a bullish bounce.
Yep, anything could happen to this pair.
EURUSD consolidated during the course of yesterday session, testing the 1.25 level for support. Ultimately if we can break down below the 1.25 level, we would be all bear coming in the market. A break down below the 1.25 level should send this pair to the next support level at 1.2350.
I hit the Stop with Draghi’s speech. Thats why I hate Friday’s trading
EUR/USD monthly chart is foaming a Descending Triangle and next highest point will be 1.2800 before it breaks the Descending Triangle. :57:
EUR/USD did fall after all, despite my suspicions that the correction might last longer. That said, in order to be certain that it’s not forming a double bottom it will have to break below the support around 1.2380 and below the previous low at 1.2350. If does that it will likely head for target 1.2200.
I am totally agree with you and next week is close to show that.
Guys don’t rush. Let’s wait for Hugo 