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Forecasting

This is a discussion on Forecasting within the General Discussion forums, part of the Trading Forum category; The EUR/USD sideways consolidation continues developing and the pair is yet to break out below 1.1200. I think we won't ...

      
   
  1. #551
    Senior Member mlawson71's Avatar
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    The EUR/USD sideways consolidation continues developing and the pair is yet to break out below 1.1200. I think we won't see that breakout before next week.

  2. #552
    Senior Member mlawson71's Avatar
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    EUR/USD did find some support at 1.1170 and is currently moving north. However, the correction is not over yet so there will likely be another depreciation soon.

  3. #553
    Senior Member mlawson71's Avatar
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    The move north continues for now - it's possible EUR/USD is forming the second wave of its correction. Once that is done the move south should continue though.

  4. #554
    Senior Member mlawson71's Avatar
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    As I thought, EUR/USD pulled back from 1.1345 and is currently depreciating. I think next target will be around 1.1250.

  5. #555
    Senior Member mlawson71's Avatar
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    EUR/USD reached 1.1200 and is currently testing that support. I wouldn't be surprised if there is a breakout below that level too and the pair continues moving south towar 1.1170.

  6. #556
    Senior Member mlawson71's Avatar
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    EUR/USD is consolidating sideways around 1.1200 still, I think the breakout may not occur this week after all.

  7. #557
    Senior Member mlawson71's Avatar
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    EUR/USD rallied to 1.1280 but then bounced off from it, I wouldn't be surprised if it is forming a range channel before the fundamentals this week.

  8. #558
    Senior Member mlawson71's Avatar
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    EUR/USD did drop back to 1.1190 and bounced off from that level too, the range channel is clearly defined now, further development depends on the direction of the breakout.

  9. #559
    Senior Member mlawson71's Avatar
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    The EUR/USD range continues developing and there is no sign of a breakout. Hopefully the US Non-Farm Payroll tomorrow will finally end that.

  10. #560
    Senior Member mlawson71's Avatar
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    The NFP did cause an EUR/USD move north but there was no breakout. I think the range will continue developing into next week.

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