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More of the Same for the Euro

fxsurprise8 Posted 30 Sep. as Analysis on EUR/USD, Target: 1.1241, Date: 1st of November, 12:00 GMT  in #Technical analysis #EUR #USD #Euro #EUR/USD #Us Dollar #Range Bound #Average Range #Inside Bar #Directionless
September was another range-bound month for the Euro. The total monthly range high to low was only 203 pips. The open to close range was even smaller at only 85 pips.
On the monthly chart below we see the latest month as an inside bar. This underscores just how slow things have been in this pair. Furthermore we're still in a larger range since March of 2015. The top and bottom of this area can be found at 1.0462 and 1.1713.
While eventually we will get a breakout, ranges can persist far longer t…
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EUR/USD to Continue Directionless Trading

fxsurprise8 Posted 31 Aug. as Analysis on EUR/USD, Target: 1.1155, Date: 3rd of October, 12:00 GMT  in #Technical analysis #EUR #USD #Ecb #EUR/USD #Fomc #Range #Range Box #Brexit #Directionless
The EUR/USD has been moving with no clear direction since May of this year. Look at the chart below. That large red bar shows Brexit day. We're now quoted at 1.1155, less then 10 pips away from the 50% retracement of that large move. That underscores how range-bound this pair has been in the past few months.
But things aren't looking great on the higher timeframes either. Notice how since about March of 2015 the Euro has been stuck in a relatively large range, marked with a rectangle on the char…
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fxsurprise8 29 Sep.

We're still trading inside the large rectangle show in picture two above. The total monthly range is only 204 pips or 1.8 percent.

So far my forecast has been stop on. Every rally is being use by sellers to unload more Euro and every drop is being used to buy on the cheap.

Take today for example. First we fell to a low of 1.1196. Then we rallied to a daily high of 1.1249 and we're now back down near the 1.1200 figure. The directionless trading in the EUR/USD continues.

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fxsurprise8 30 Sep.

More of the same for the Euro as we get yet another directionless trading day. Today we opened at 1.1221, fell to a low of 1.1153 around mid-day, only to rally hard later on some Deutsche Bank speculation.

A high of 1.1250 was hit, soon followed by a retracement. We're currently quoted at 1.1234, only 13 pips away from the daily open. The range-bound scenario outlined in my original post continues. The EUR/USD looks set for another monthly inside bar.

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fxsurprise8 3 Oct.

Time for another update! The past few days brought lot of volatility but no decisive movement. During all of the commotion a low of 1.1153 was hit, overshooting my target by only 2 pips. But this move was quickly reversed by a sharp rally higher to 1.1250. We are currently quoted just below the highs at 1.1230.

The sharp bounce right at the 1.1150s area confirms the validity of the level that I picked as a target. But with Germany celebrating Unity Day tomorrow, things could be slower then usual. This doesn't bode well for forecast because I'm still 75 pips away from my forecasted price.

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