Looking On the EUR/USD
weekly chart 2 weeks ago we had a nice impulse move to the up side Mainly from Yellen's comments at the Economic Club. Last week we put in a Doji
at resistance and this week so far we made a run for the 78.6 Fib retracement but failed to close above it. Im personally not going to get to aggressive on the longs from this level. we have a 78.6 retracement confluence with suture resistance, A 1.15 handel and just above that a 88.6 retracement confluence with a 161.8 I will be looking for consolidation or a retracement at this level.
Fundamentally: as far as news flow coming from the EZ this week, Wednesdays Industrial Production and thursdays Inflation
finals and thats about it.
targets to the upside:
(1) A daily break and close above 1.14569
Watch for consolidation or a retracement.