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EURUSD consolidate already 5-weeks at 1.12.

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  • #61
    It's possible, but the continuation of the bearish trend will be confirmed after a breakout below 1.1600, in my opinion.

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    • #62
      It looks like the drop won't be continuing any time soon. EUR/USD bounced off from 1.1740 and it will probably rally towards 1.1900 again.

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      • #63

        The zone around 1.1860 - 1.1870 is proving to be a very strong resistance zone, the pair bounced from it yet again and it looks like it will begina sideways consolidation between that zone and 1.1730.

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        • #64
          EUR/USD is back at the support of the range at 1.1730. A possible breakout below that support could lead to a drop towards 1.1665, which is the MA89 on the D1 chart.

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          • #65
            The pair has formed both a hammer and an inverted hammer bar on the H4 time frame at 1.1730. I think that is a good indication that the support at that level will hold.

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            • #66
              EUR/USD is still stuck in the sideways consolidation between 1.1720 and 1.1860. So far there's no signal that consolidation will end, hopefully the ECB press conference today will give it the necessary push to do so.

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              • #67

                EUR/USD broke out below 1.1670 after ECB press conference yesterday and today it continues to depreciate. I wouldn't be surprised if it reaches 1.1500.

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                • #68
                  EUR/USD is consolidating above 1.1570 for a third day now. A breakout below that support could lead to a drop to 1.1400.

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                  • #69
                    EUR/USD is testing 1.1670 again, which is the resistance of the sideways range. Frankly, I doubt there will be a breakout before the NFP, but then again, stranger things have happened.

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                    • #70
                      EUR/USD is testing the support at 1.1570. It may be forming a double bottom at that level and if that is the case we will likely see a new move to the upside.

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                      • #71
                        EUR/USD did break out below the double bottom at 1.1570 but it was only briefly and now it is back above the support. Clearly the sideways consolidation continues.

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                        • #72

                          I really should pay more attention to the weekly time-frame. EUR/USD has formed an inverted hammer on it at 1.1600, so we may see a rally after all.

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                          • #73
                            EUR/USD did rally but so far is stalling at 1.1670 which has served as a resistance level since the range began. Further rally will probably occur if or when there's a breakout above the indicator.

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                            • #74
                              EUR/USD is still consolidating around 1.1670, but this week there are speeches by both ECB President Mario Draghi and the Fed Chair Janet Yellen, so the news are bound to end the consolidation.

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                              • #75
                                The fundamentals pushed EUR/USD hard to the upside. The way it's rallying it could reach 1.1900 or even climb above it soon. The long-term target is probably the last high at 1.2092.

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