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EURUSD consolidate already 5-weeks at 1.12.

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  • EURUSD consolidate already 5-weeks at 1.12.

    EURUSD could not find a clear direction already 5-weeks. The process of consolidation continues at levels of 1.12. It is waiting for a key event that would move the market into new direction.
    The consolidation process may continue next week with slightly movements within the trading range of 1.1110 and 1.1290. The events that are important for the last week of June are U.S. Durable orders on Monday and GDP report on Thursday.
    World-Signals.com trading strategy during the week is trading within the trading range. We will use the support and resistance levels to open long and short positions. If the trading breaks below the support level we are ready for short positions. The chances for short positions below the support level are lower than break above the resistance level.
    World-Signals.com - Forex, Stock, Energy and Metal signals to the world

  • #2
    The fundamentals caused a big rally, I wouldn't be surprised if it reaches 1.1500 next.

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    • #3
      The pair did find a resistance at 1.1450, but I doubt this is the end of the rally. I am still keeping my long position open.

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      • #4
        Well, so much about this not being the end of the rally, at least for now. EUR/USD is falling and next target will probably be around 1.1300.

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        • #5
          EUR/USD rebounded from 1.1312 after forming a spinning top candlestick on the daily time-frame at that level. Let's see whether it will test 1.1445 again.

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          • #6
            The pair formed a hanging man candlestick on the weekly time-frame below the resistance at 1.1445, so there will likely be a new move to the downside.

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            • #7
              Consolidation continues today and it may continue until the FED Chair Janet Yellen's testimony tomorrow.

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              • #8
                EUR/USD continues crawling to the upside and it could potentially reach 1.1550, even 1.1600. Despite that one can see the beginnings of a RSI divergence on the daily time frame, which could be a signal for a new corrective movement to the downside. We should pay attention whether that divergence will deepen and whether any bars signalling such a movement will appear on the larger time frames.

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                • #9

                  EUR/USD remains quite undecided despite the fundamentals that affected it. It rebounded from 1.1370 and it will likely reach 1.1450 again.

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                  • #10
                    The pair's sideways consolidation continues. For now I have closed my positions and I will be waiting for a breakout before I open more.

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                    • #11

                      The pair is still very undecided, I hope the fundamentals this week will end the consolidation.

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                      • #12
                        After five months of rally today EUR/USD climbed with another 70 pips during the Tokyo session today and approached the strong resistance zone around 1.16 - 1.17. I think we can expect a trend reversal at least because it needs to form a deeper correction and we should be on the lookout for signals for that reversal.

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                        • #13
                          I have a horizontal level at 1.4494 back from 8th May 2016. It's trading above that currently. I would scalp a few pips down, the get it on the bull trend.

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                          • #14
                            EUR/USD rebounded from 1.1580 and has fallen back to 1.1480. I think the drop will continue at least to 1.1450.

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                            • #15

                              EUR/USD almost reached 1.1700 today, the question is whether it will continue rallying towards that target.

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