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EURUSD consolidate already 5-weeks at 1.12.

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  • #46
    EUR/USD made another attempt to break out above 1.2070, but so far it has been unsuccessful. The pair might retrace back to the support at 1.1920 or even break out below that level.

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    • #47

      The bullish movement continues, after all, despite the retracement yesterday. EUR/USD formed a new high at 1.2090 and it may soon break out above the next major resistance at 1.2100.

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      • #48
        It appears that there will be at least a temporary retracement as EUR/USD formed another shooting star bar on the D1 time frame at 1.2092. That said, the overall bullish trend is not over yet and the rally will probably continue afterwards.

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        • #49
          The EUR/USD retracement is either over or the pair has begun to form a sideways consolidation above the support at 1.1835 because the pair formed a hammer bar above that level on the D1 time frame and bounced off from it. Which one of these scenarios is more valid depends on whether there will be a breakout above the last high at 1.2092 or the pair will bounce off from it again.

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          • #50
            A reminder that the FOMC interest rate announcement will be in a few hours - expect major volatility when that happens!

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            • #51
              EUR/USD dropped significantly after FOMC announced yesterday that they won't hike the interest rate. However, despite the drop, the pair remains withing the sideways consolidation above 1.1859. I think next target will be 1.2030 again.

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              • #52
                EUR/USD has been consolidation sideways for well over three weeks now and not even the FOMC news could end the consolidation. That said, the pair has formed a hanging man bar on the weekly time-frame at 1.2030, a correction to the downside is possible.

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                • #53
                  I think the bullish trend is definitely over for now - EUR/USD has begun a serious correction. I think next target will be around 1.1600, which is the MA89 on the daily time frame.

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                  • #54
                    It looks like EUR/USD is rebounding from 1.1730. I think it may rally to 1.1800 or even above that level again.

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                    • #55
                      EUR/USD is consolidating above 1.1700. The consolidation likely won't end before the NFP on Friday. NFP weeks tend to be terribly slow up until the news come out.

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                      • #56
                        Talk about much ado about nothing, all that the NFP caused this time was a 70 pips long whipsaw. The pair remains undecided, we'll see next week whether there will finally be a true breakout below 1.1700.

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                        • #57
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                          EUR/USD found some support at 1.1665 and rebounded from that level. What is more, the pair has formed a clear hammer candlestick on the daily time-frame, also at the same level, so there will likely be a new move to the upside.

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                          • #58
                            As I thought it would EUR/USD started moving to the upside. The pair is currently testing 1.1800 and I think it may reach 1.1850.

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                            • #59
                              Today will be announced the FOMC meeting minutes, so we can probably expect major volatility on all USD-related pairs. I recommend caution when trading them.

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                              • #60
                                EUR/USD rebounded from 1.1665 and continued rallying. It's testing 1.1870 and I think if it breaks out above that level it will reach 1.1980.

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