EUR/USD settles around 1.1450 as fears returned

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Bitcoin recovered from the lows near $6,000 last week only to wind up in a halt above $6,400. The trading since the brief surge on Monday has been sluggish and mundane. This sideways movement reflects the general trend in the market accept for selected altcoins like Ravencoin (RVN) and Odyssey (OCN), which continue to fly the bullish flag high in the crypto space.

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NEO price analysis: Breaks triangle resistance; can bulls sustain gains above $18.00?

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Ethereum price analysis: ETH/USD at risk of further sell-off

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Litecoin creeping lower, no reaction to Gemini listing so far

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EUR/USD analysis: poised to retest 1.1431

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AUD/USD analysis: to retest yearly lows on poor Chinese data

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US President Trump unorthodox methods keep working like a charm for him

The common currency retains the dubious honor of being among the weakest currencies across the FX board, as despite dollar's weakness ruled throughout the week, the EUR/USD pair ends it barely up in the 1.1550 region. The pair peaked at 1.1610 and bottomed at 1.1431, a fresh 7-week low, as Italian political woes dominated the pair at the beginning of the week.



Yohay Elam

As outlined on the daily perspective, most majors are showing similar price structures, ones which are characterised by lollygagging exchange rates, surrounded by ever converging technical levels such as moving averages, pivot points, volatility bands and recent highs and lows. Momentum indicators are surely reflecting the current consolidation seen in their charts.

Under this scenario, and without entirely dismissing my previous EURUSD analysis connoting a South move, I would prefer a clearer directional break out of the current congestion, before adopting fresh positioning. The EURUSD is presently hesitating between 1.1620 and 1.1420. Last week's and also last month's low represent the last line of support, before a downside continuation could become reality. On the upper side, a combination of Fibonacci levels and pivot resistances build the last line of defence for bulls.

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