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EURUSD consolidate already 5-weeks at 1.12.

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    mlawson71
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  • mlawson71
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    EUR/USD remains bullish after all and the closest target to the upside remains at 1.1700.

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  • mlawson71
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  • mlawson71
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    EUR/USD pulled back from 1.1680 after all. EUR/USD has reached a strong resistance on the weekly and monthly time frame. I think it is very possible for us to see a deeper correction - up until the pair reaches 1.1400 or even 1.1250. Such a correction, obviously, won't develop over the course of a couple of days, it could last for weeks.

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  • mlawson71
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  • mlawson71
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    Apparently the rally continues, though we will have to wait for next week for the pair to break out above 1.1700.

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  • mlawson71
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  • mlawson71
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    EUR/USD almost reached 1.1700 today, the question is whether it will continue rallying towards that target.

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  • mlawson71
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  • mlawson71
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    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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  • Westie
    Senior Member

  • Westie
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    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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  • mlawson71
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  • mlawson71
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    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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  • mlawson71
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  • mlawson71
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    The pair is still very undecided, I hope the fundamentals this week will end the consolidation.

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  • mlawson71
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  • mlawson71
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    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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  • mlawson71
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  • mlawson71
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    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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  • mlawson71
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  • mlawson71
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    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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  • mlawson71
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  • mlawson71
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    Consolidation continues today and it may continue until the FED Chair Janet Yellen's testimony tomorrow.

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  • mlawson71
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  • mlawson71
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    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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  • mlawson71
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  • mlawson71
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    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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  • mlawson71
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  • mlawson71
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    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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