Get 40% Off
to Daily Price Action.
Ends March 31st!
EURUSD bulls broke through a significant level last week. Monday’s 1.1474 close confirmed the break of falling wedge resistance that extends from April 2018. I discussed this pattern on Christmas Eve. Tuesday’s session was mostly consolidation. But by Wednesday the euro was carving the highest price since October of last year. That didn’t last long […]Continue Reading
EURUSD continued its sideways movement below the 1.1450 resistance area last week. This has been the case since October 24, 2018. However, the 1.1300 area has been there to support the euro since late November of last year. In fact, the pair has carved higher lows since the 2018 low at 1.1215. I still think […]Continue Reading
The EURUSD is set to start the week in a familiar range. Since October 24th, the single currency has been capped by 1.1450 on a daily closing basis. The low for the range is 1.1215, although 1.1300 has been the primary defensive position for bulls. Last week I pointed out a possible falling wedge pattern. […]Continue Reading
Last Thursday I wrote that EURUSD bulls had more work to do. The level in focus was 1.1450. It has served as a pivot of sorts since the euro closed below it on October 24th. In fact, the 1.1450 area acted as support even before that breakdown. As you can see, EURUSD did break through […]Continue Reading
EURUSD finally showed its hand on Friday. I wrote about the wedge pattern you see below on Wednesday of last week. At the time, the euro had just bounced from support near 1.1320. However, we were still waiting for a breakout. That move came just before the weekend. I’ll be the first to admit that […]Continue Reading