Thursday 19 March 2015

Is The Consolidation Over?




Just as I thought, the FOMC rate decision announcement did cause EUR/USD to move to the upside until it reached the resistance at 1.0950 and then it bounced back. Congratulations to everyone who managed to use the two movements – to the upside and then to the downside - to make profit . I confess that I only managed to do so with the latter The question is, what next? I think the bearish trend will continue, but that the consolidation is not necessarily over yet, so I don’t intend to open new short positions before I see the pair break below the support at 1.0480.
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6 comments:

  1. Unknown19 March 2015 at 07:51

    Eur/usd back to the range between 1.0650-1.0700.

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  2. Unknown19 March 2015 at 18:38

    With this pullback, the price may just go back to its downtrend.

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  3. bewayopa19 March 2015 at 19:15

    The rise is far from being a sign of trend reversal.

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  4. Anonymous20 March 2015 at 03:16

    The pair should consolidate from 1.08 to 1.05 levels until Tuesday of next week.

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  5. Unknown20 March 2015 at 15:13

    The pair going up so far.

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  6. Unknown22 March 2015 at 14:56

    No, it's not over.

    ReplyDelete

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