With respect to our monthly analysis from August 02. and the forecast of the eur/usd possible target after the break of important resistance, here’s how I see the pair on daily chart. As you sow in the market, the pair is moving for days in between 1.17 and 1.18 without a clear direction and based on my technical chart, this raising flag could be a possible reason for that.
In my previous EUR/USD analysis, I have marked this support which starts at 1.1750/600, follows at 1.0600/500, where I see the strong buying interest now. As I wrote in my monthly analysis, I don’t see the pair bellow that level again in 2017, but as you know, everything is possible in this market. In my point of view, this could be just a break and road to the new 2017 high for the pair. As allways, it’s so interesting to follow and to trade the fx market for us, we are trilled with each the planning of the furder possible moves. 😉