It's still testing 1.1110, I am not opening another short without a proper breakout.

EUR/USD: all eyes on the FOMC… and 1.1100 – UOB


A sustained break below the 1.1100 handle still remains unclear, noted FX Strategists at UOB Group.

Key Quotes

24-hour view: “We noted the “improved underlying tone” yesterday and expected EUR to “probe 1.1170”. However, EUR only touched 1.1160 before trading mostly sideways. The underlying tone still appears to be slightly positive and EUR could edge above 1.1170 from here. That said, a break of the strong 1.1200 resistance is unlikely. Support is at 1.1130 followed by the still very solid level of 1.1100”.

Next 1-3 weeks: “After EUR traded within a wide range of 1.1100/1.1187 last Thursday (25 Jul), we indicated on Friday (26 Jul, spot at 1.1145) that it is “too early to tell whether EUR could move and stay below 1.1100”. We added, “EUR could consolidate and trade sideways for a few days”. From that perspective, the relatively quiet price action over the past couple of days was not surprising (EUR traded between 1.1110 and 1.1150 for the past two days). At this stage, it is still not clear whether EUR could move and stay below 1.1100. That said, the downside risk is clearly higher and only a break of the 1.1200 ‘key resistance’ (no change in level) would indicate that the recent weakness in EUR has stabilized”.

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-a ... 1907310553 (Article)

The consolidation continues, I think it will drop towards 1.1100.

mlawson71 wrote: Thu Aug 01, 2019 2:01 am The consolidation continues, I think it will drop towards 1.1100.

Nailed it Mr. Lawson! It broke below 1.1110
Now the next major level is the Monthly support at 1.0800.

EUR/USD remains on the defensive – Commerzbank


Karen Jones, analyst at Commerzbank, points out that EUR/USD pair has broken below 1.1110/06, the April and May lows and in doing so has introduced scope to the 1.0974 2018-2019 support line, which in turn guards the 78.6% retracement at 1.0814/78.6% retracement.

Key Quotes

“The market will stay directly offered below 1.1176/81 (mid June low and March low) and only a close above here would signal recovery to the 55 day ma at 1.1235 and the highs from last week at 1.1285. But while capped here it will remain on the defensive.”

“The market will need to regain the 55 week ma at 1.1372 to generate upside interest.”

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-r ... 1908010542 (Article)

Yep, the fundamentals pushed it down and the pair broke out below 1.1100. I think it will keep dropping for now.

It formed a very impressive hammer candlestick at 1.1025 on the daily time-frame, it looks like it is time for some correction.

The move north did begin as I thought it would, next target will likely be around 1.1200 again.

As I thought, EUR/USD rallied this week. It is already at 1.1200 and it will likely break out above it and continue towards 1.1300.

EUR/USD: Market has recovered – Commerzbank


Karen Jones, analyst at Commerzbank, EUR/USD saw only a brief slide below 1.1100 last week and has quickly recovered.

Key Quotes

“It is contained longer term within a down channel the top of which lies at 1.1377 and is reinforced by the 55 week ma at 1.1360. Shorter term the market has recovered to overcome pivotal resistance at 1.1176/88 (mid-June low and March low) and we will assume a near term attempt on the highs from last week at 1.1285 and the 200 day ma at 1.1299 is likely.”

“Dips lower are likely to find some support circa 1.1150.06. Key support is the 1.0967 2018-2019 support line and below here lies the 78.6% retracement at 1.0814/78.6% retracement.”

“The market will need to regain the 55 week ma and channel at 1.1360/77 to generate upside interest.”

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-m ... 1908060630 (Article)

EUR/USD pulled back from 1.1250 and it's obvious the range is still in place but I think we will see it rallying again.