EUR/USD - Current levels @ 1.17425 seems not bad for sell with S/L 1.1755 and target around 1.1720

EUR/USD found some support at 1.1665 and rebounded from that level. What is more, the pair has formed a clear hammer candlestick on the daily time-frame, also at the same level, so there will likely be a new move to the upside.

Today will be announced the FOMC meeting minutes, so we can probably expect major volatility on all USD-related pairs. I recommend caution when trading them.

mlawson71 wrote: Thu Oct 12, 2017 12:20 am Today will be announced the FOMC meeting minutes, so we can probably expect major volatility on all USD-related pairs. I recommend caution when trading them.

Good heads up! Thanks lawson!

In my opinion by looking at the weekly chart , this week pair could hit 1.1905 before a correction to 1.179 next week .

bonifaas_abe wrote: Thu Oct 12, 2017 6:16 pm In my opinion by looking at the weekly chart , this week pair could hit 1.1905 before a correction to 1.179 next week .

I agree, it's quite bullish on the weekly time frame.

It remains very bullish. t's testing 1.1870 and I think if it breaks out above that level it will reach 1.1980.

On daily chart seems to be bearish, so be careful with taking positions from the long side of the market.

FrancoisT wrote: Tue Oct 17, 2017 1:14 am On daily chart seems to be bearish, so be careful with taking positions from the long side of the market.

You're right, it bounced off from 1.1880. I closed my long position at a loss.

It looks like EUR/USD is on its way to test the resistance at 1.1870 -1.1880 yet again. I think this time there will be a breakout after all.