FXWES posted: With the euro, improving to 10-week high, the correction that we see the pair is now well established. This does not change the overall picture, which is a lower euro (and can be changed later in the year), but after break of 1.1050, turning around the German government bonds and the momentum that we see, EUR / USD may lose some recent gains. USA published some weak data, but is expected to recover in Q2.
So the people who didn't hedge against the 'correction' are now sitting with 500-600 pip floating loss, which goes to what I have always stated about not investing or swing trading. Why would anyone in their right mind want to go in red 500-600 pips to end up making the same amount. Consider the amount of time you would lose just to hit your target (Assuming that EU even drops back down) compared to just trading the runs from pivots to pivots daily.
csc2009 posted: Low volume, high volatility, high manipulation. We had 100 pips up and down everyday for the past few weeks, are we expecting the same next week? Eurogroup meeting is back on Monday, let's see.
It's not moving anywhere, usual Asian session ahead.
EURUSD fell on Friday session after a better than expected US non-farm payrolls and unemployment rate. The currency initially rose but found enough selling pressure to give all its gains and close in the red near the low of the day, on a narrow range day. We may see a pullback toward the daily support at 1.1097 before another move upward.
EUR/USD formed a doji candlestick right on the resistance at 1.1180 on the weekly filter chart. I wonder whether this might be the end of the rally or does it indicate only a temporary move to the downside.
EUR / USD closed the week to fall. There is a negative divergence between the short-term oscillators and price action. The RSI remained low after falling below the 50 line and the MACD is already below its signal line.
EUR/USD didn'tmake any significant move last week. The alert is neutral, possibly with slight bearish signs for testing the 1.1140 support. I still prefer a bullish scenario at this phase but a clear break and daily close below 1.1140 could trigger further bearish pressure testing 1.1040.
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