$EURUSD

[mlawson71]

The pair is so undecided for the moment that unless the fundamentals give it a necessary push it may not exit the range before the market closes later today.

 

[TradeViper]

The pair is so undecided for the moment that unless the fundamentals give it a necessary push it may not exit the range before the market closes later today.

ML whats up

The Ever Roaming VIPER

 

[doggyfx]

The pair is so undecided for the moment that unless the fundamentals give it a necessary push it may not exit the range before the market closes later today.

Fundamentals have already gave it a push (after US CPI). Now target is 1.20 ahead of the ECB meeting in September where Draghi should announce tapering off.

 

[mlawson71]

EUR/USD is testing the support at 1.1700 yet again. I think a breakout below that level will lead to another move to the downside toward 1.1600.

 

[doggyfx]

EUR/USD is testing the support at 1.1700 yet again. I think a breakout below that level will lead to another move to the downside toward 1.1600.

Obviously, enough. ECB minutes signaled Euro got high risks to overshoot, with sentiments going ahead of themselves and maybe economy fundamentals. EURUSD gain is a merit of dollar weakening, not improving picture on Euro.

 

[mlawson71]

It has finally become obvious that EUR/USD is forming a flag on the D1 time frame, an obvious correction to its overall move to the upside. Once that correction ends there will likely be a new move to the upside, and the continuation of the upward trend will be confirmed once the pair breaks out above the high at 1.1909.

 

[mlawson71]

The correction to the downside may be over, considering the hammer bars the pair has formed on the H4 time-frame at the support at 1.1660. I expect a new move to the upside.

 

[mlawson71]

A quick reminder that Janet Yellen will have a speech tomorrow at Jackson Hole at the Federal Reserve Bank of Kansas City Economic Symposium and it will likely affect all USD-related pairings, including EUR/USD, which will probably continue its consolidation until then.

 

[mlawson71]

The sideways consolidation has become very tight because of impending news about Janet Yellen's speech. I have closed all my positions just in case. Good luck to anyone trading the news.

 

[mlawson71]

EUR/USD has formed a pair of shooting star bars on the H4 time-frame at the last high at 1.1960, so we might see a temporary retracement before the pair continues moving to the upside, as the trend remains very bullish for now.