stephenleachman

EUR/USD Weekly Overview 4-11-16

FX:EURUSD   Euro Fx/U.S. Dollar
88 1 5
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
(2) 115.00
(3) 1.15758

Watch for consolidation or a retracement.
Hi

Nice work

May I suggest you use a much much larger number of candles and larger swings when doing PF analysis
It will help you a lot and make your analysis much more accurate

Good luck
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