EUR/USD

[Eliza Abrams]

It is still testing 1.0820, if it breaks out below that level it will probably drop back to 1.0760.

[fxopen78]

Seems euro get pressure from USD, the price still moves on support zone and possible to break low, Germany punishment to ECB seems to make the euro currency in the problem. But in different pairs eurjpy its strong bullish.

[drunkfx]

I think we are in a whipsaw mode, no clear trend so we have to wait for more signals from markets&economy. the odds to make a mistake entering wrong trend is higher now.

[Eliza Abrams]

It does seem that way, the pair has no clear direction at the moment.

[Eliza Abrams]

It's back at 1.0790 but it has not broken out below that level. That's the support of the sideways consolidation, let's see whether it will bounce off from it again.

[Eliza Abrams]

It rallied back to 1.0850 and pulled back from that level. As I thought, the sideways consolidation won't end this week.

[drunkfx]

It rallied back to 1.0850 and pulled back from that level. As I thought, the sideways consolidation won't end this week.

When do you expect it to break through current range. I see more attempts to go upside rather than test new lows. It suggests buying dips can be very profitable opportunity.

[Eliza Abrams]

I don't think anyone can tell you when a range could end. When there's a breakout it will end. In the absence of any signals I'd also wait for any big fundamental events.

[Eliza Abrams]

A breakout finally occurred and it was to the upside! The pair broke out above 1.0900 and rallied to 1.0975. Currently it has formed a spinning top on the four-hour at that level so we may see some correction.

[Eliza Abrams]

The move south was very brief and now the pair is rallying again. Let's see whether it will break out above 1.0975 or there will be a double top.

[Eliza Abrams]

It broke out above 1.0975 and the move north clearly continues. The pair will likely break out above 1.1000 soon.

[fxopen78]

EURUSD reach on the peak right now, in this area could in consolidation phase, although possible to break high, but I think it will then reversion,  Friday market sometimes wild movement, usually random, it's possible to bearish again.

[Eliza Abrams]

You were right about the bearish movement, it dropped back down to 1.0890, there was no breakout above 1.1000.

[Eliza Abrams]

It's still consolidating above 1.0890 although there is a bullish hammer at that same level on the four-hour time-frame, so let's see how it will develop.

[Eliza Abrams]

The bullish hammer proved to be a very reliable signal, EUR/USD rallied toward 1.0970 and may reach 1.1000 again.