The EURUSD is quietly consolidating above the 200dma as price action continues to compress into a pennant.
The EURUSD has closed above the 200dma and also the 35% Fibonacci retracement of the Sept 2018 highs to April 2019 lows.
The EURUSD is at risk of a double bottom being formed since the 1.1110 level held as support once again.
The EURUSD has developed a triangle consolidation despite the AB=CD pattern pointing lower. Obviously, the risk moving forward is the China/US trade deal in the coming days.
The EURUSD has finally cracked the multi month range lows and seems to be breaking lower (finally!) to test the 127% extension of the last rally.
The EURUSD finally broke higher out of the two month consolidation with the pair reaching as high as 1.1550 today.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
Two days ahead of the ECB meeting and the EURUSD is probing a triangle consolidation support.
The EURUSD has broken the key 1.1300 support and is at fresh yearly lows. We have a long term head and shoulder’s pattern, which if completed, could take the pair back towards parity.