EURUSD consolidate already 5-weeks at 1.12.

[mlawson71]

EUR/USD probing tops around 1.20 ahead of ADP, FOMC

-By Fx Street
It may fall below 1.2000 too as, as per the new says the pair has bounced off lows and is now testing the 1.2000 region

I think so too, but the way it's developing around 1.2000 makes me think there may be some correction first.

[mlawson71]

The NFP will be announced soon, the pair is stuck on a consolidation because of it. I recommend caution.

[mlawson71]

The depreciation continues, I wouldn't be surprised if the pair eventually falls down to 1.1800.

[Chri]

great am happy to hear this

[mlawson71]

great am happy to hear this

Do you have short positions?

[mlawson71]

Either way, short positions don't seem to be a good idea right now, the pair may climb above 1.2000.

[mlawson71]

So much about a rally, the pair is as bearish as ever and it may drop below 1.1760.

[mlawson71]

It's still testing the support at 1.1760 and I think there will probably be a breakout eventually.

[mlawson71]

The pair rebounded from 1.1775 but there will likely be a new move to the downside once the correction ends.

[amri.rudi]

New support at 1.1715...but maybe this down trend still continue..

[mlawson71]

New support at 1.1715...but maybe this down trend still continue..

It probably will, we may just see some correction first.

[salih07]

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 forex below the support level are lower than break above the resistance level.

this down trend still continue

[mlawson71]

It's still testing 1.1700, let's see whether there will be a retracement before another depreciation.

[mlawson71]

The pair is so bearish that it may break out below 1.1600 next week.

[mlawson71]

The pair has almost reached 1.1600, I think we'll see the breakout below that level soon.