Before:

EURUSD Update.PNG

After:

EURUSD Update 1.PNG

EURUSD did not follow any paths this week but I see EU coming back down to 1.23 zone as soon as it breaks the bullish trendline (shown below).


Upcoming EUR + USD News:

  • Monday
    • ISM Non-Manufacturing PMI
      • Previous: 55.9
      • Forecast: 56.5
    • ECB President Draghi Speaks
  • Wednesday
    • Crude Oil Inventories
      • Previous: 6.8M

Monthly: We are extremely bullish on the EURUSD. We broke resistance and next target area is around 1.27 – 1.28. However, we need to wait and see on the lower timeframe.

EURUSD Monthly.PNG

Weekly: We closed as a doji, which is neutral but since we are a critical level and we had 7 straight weeks of bullish candles, I can see us going bearish for a bit to create a higher low on the weekly before continuing up higher.

EURUSD Weekly.PNG

Daily: Daily clearly is still ranging, under the resistance and the support of 1.23500. This does not show me anything what so ever so I will be waiting on the H4 to give me some sort of direction on the daily and keep checking on daily closing.

EURUSD Daily.PNG

H4: We have a bullish trendline, are we going to break it? No idea, we wait and see if this will be the 3rd touch to propel us to break resistance or we break it and go back down to 1.23 area.

 

EURUSD H4.PNG


Predicted Movement:

EURUSD Prediction

Paths explained above.