Euro moved above 1.26oo handle and as was told before touched weekly channel resistance around 1.2630/50, decline from this last resistance for me not start for another leg down as long as price is above 1.2300/50. I think we will see daily consolidation below 1.2650 and above 1.2400 for even 2-3 weeks ahead. 1.2440/50 is key level support of H4 channel so be cautious regarding to aggressive selling.
I prefer Buying pair below 1.2500 and selling it above…Continue
Euro well supported above 1.2450 after last run to 1.2580 resistance, after 2 day consolidation in 1.2470-1.2580 range now we can expect pushing rate higher for 1.2630/50 resistance test in coming sessions where 15 months decline resistance is located ( see chart ), also 1.2650/60 is up channel for rising from 1.2040. So my expectation is bullish move to 1.2650/60 resistance albeit in slow pace. In long term view we have to wait and see what will be reaction to this…Continue
Euro well moved above 1.2500 as was expected in previous post, touching 1.2570 in early Europe morning. Expect consolidation phase above 1.2480/2500 before next leg up nearing 1.2600/2630 resistance, consolidation may continue even tomorrow. Entering long below 1.2500 for 30-40 pips profit taking is recommended with stops below 1.2450.…Continue
As shown in H4 chart euro is trapped between 1.2280 ( H4 channel support ) and 1.2380 ( triple top resistance ), break and closing hourly candle outside of this range is needed for trend confirmation. Keep in mind fake break of 1.2280/90 support is possible but My view is returning above 1.2400 targeting 1.2600 in coming days. Enter long below 1.2380/2400 with stops below 1.2300 and first targets above 1.2500.