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EURUSD consolidate already 5-weeks at 1.12.

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    mlawson71
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  • mlawson71
    replied
    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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  • mlawson71
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  • mlawson71
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    The fundamentals caused a big rally, I wouldn't be surprised if it reaches 1.1500 next.

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  • World-Signals
    Senior Member

  • World-Signals
    started a topic EURUSD consolidate already 5-weeks at 1.12.

    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.
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