Monday 27 July 2015

EUR/USD Still Consolidating




EUR/USD bounced off the support at 1.0800 and once again moved to the upside, testing the resistance at 1.0970 for a while before finally breaking above that level today. The pair climbed over 160 pips for less than a day and even broke above the resistance at 1.1080 that coincides with the (MA)89 on the daily filter chart. The pair is likely headed for the next resistance level at 1.1170, although if it breaks above it we can probably expect it to continue climbing much higher than that. That said, for now EUR/USD remains in consolidation.
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5 comments:

  1. Unknown28 July 2015 at 09:11

    Attention will focus on the Fed meeting that starts today and has its outcome tomorrow with the release of the statement of the meeting.

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  2. Unknown28 July 2015 at 10:05

    I fully agree with your analysis!

    ReplyDelete
  3. Unknown28 July 2015 at 15:05

    No signs of a clear direction yet.

    ReplyDelete
  4. Unknown28 July 2015 at 17:09

    1.12 is important resistance level.

    ReplyDelete
  5. Unknown2 August 2015 at 12:25

    Great analysis. thank you.

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