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EUR/USD

Volatility remained extremely high on Friday with the Euro strengthening to a high above 1.2650 on further speculation over intervention by the major central banks as speculative players pushed to trigger stop losses. The currency was, however, unable to sustain gains in European trading as underlying sentiment was still generally weak. The German IFO index weakened to 101.5 from 101.6 the previous month while there was a dip in the manufacturing PMI index, but there was a gain in the services sector.

The German parliament approved the Euro-zone support package which provided some degree of relief for markets as the immediate threat of political divisions eased. Euro-zone Finance Ministers also met during ...

EURUSD Forecast:
The EURUSD was traded lower earlier today in Asian session around 1.2480 at the time I wrote this comment after touched the major trendline support on Friday. On h4 chart below we can see that price is now testing the lower line of the bullish channel. Although the major scenario remains bearish, note that as long as price move in the bullish channel the bullish correction scenario remains intact and only a violation to the bullish channel can be a threat the bullish correction scenario. Also I have been watching an interesting phenomena lately where price tend to go lower in Asian session but go to the upside significantly in US session. Immediate support at 1.2440 area. Consistent move below that area could trigger ...

EURUSD Weekly Summary: Intervention lead Euro higher at critical technical point
The EURUSD recovered significantly this week. Price attempted to push lower on Wednesday, bottomed at 1.2143 but whipsawed to the upside, topped at 1.2671 and closed at 1.2571 in a high volatile market. On weekly chart below we can see that price retreat to the upside, touched the major trendline support and seems ready to make further upside pressure challenging the trendline support next week. So we are in a critical technical phase now. A consistent movement back above the trendline could trigger further significant bullish momentum as a false breakdown scenario maybe produced. Also we all know that this significant upside correction was triggered by ...

Hi everybody, for this London outlook I tackle the Euro USD. Very simple analysis for you today. Nothing but price action, fibs and multiple timeframe use. Good luck and enjoy the video!!
- David Pegler
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