The Euro
versus the Dollar goes back up above the 1.0500 level and makes a 100 pip move
to the 1.0600 zone. Once the price got to that level, it tries to break it to
the upside, but the bullish momentum loses strength and the price comes back
down. At the moment the price may try to head back down to the 1.0500 level,
but that level could become a good support for the pair. We can notice on the 5
minute chart of the EUR/USD that the price has already visited two times the
1.0500 and that level has held the price from falling further.
Consolidation continues for EUR/USD and the pair will likely reach 1.08 or even 1.10 but the bearish trend will probably continue after that.
ReplyDeleteEur/Usd's upward corrective movement extend further, but lost it's strength when reach the daily high of 1.0618.
ReplyDeleteLong term bearish trend still remains.
ReplyDeleteI'll keep an eye on this.
ReplyDeleteWell spotted! I'll keep it in mind.
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteVery good one.
ReplyDeleteWhere is this going to lead? Who knows...
ReplyDelete