EUR/USD

mlawson71

1041 by mlawson71

As I thought, it reached 1.2000. Now the question is whether it will break out above that level and rally to 1.2050 or drop back down.

mlawson71

1042 by mlawson71

It looks like we can't expect a breakout above 1.2000 this week.

mlawson71

1043 by mlawson71

As I thought, the new week started and it rallied to 1.2040. There is a resistance at 1.2050, let's see whether it will bounce off from it.

mlawson71

1044 by mlawson71

It did reach 1.2050 and it remains pretty bullish. Any theories how much higher it may rally?

mlawson71

1045 by mlawson71

EUR/USD formed a pair of pinbars on the daily time-frame and there is a pretty strong resistance around1.2050, so the move north may end after all.

mlawson71

1046 by mlawson71

The two pinbars on the daily time-frame looked like a reversal signal to me, but that was obviously not the case. The pair remains quite bullish.

mlawson71

1047 by mlawson71

It's testing the resistance at 1.2100, I think it is quite possible for it to break out above that level this week.

mlawson71

1048 by mlawson71

It's consolidating around 1.2080. I think this week we may still see a rally past 1.2100.

mlawson71

1049 by mlawson71

It bounced off from 1.2150 and by the looks of it the pair will drop back to 1.2050.

mlawson71

1050 by mlawson71

It's testing the support at 1.2025, do you guys think it will drop below that level.