Skip to main content

EUR/USD extending its sideways movement

#

analytics62e4160a5b4b8.jpg

EUR/USD Range Pattern!

The EUR/USD pair was trading at 1.0195 at the time of writing. As you can see on the H1 chart, the price continues to move sideways. It is trapped between the 1.0103 and 1.0265 levels. Personally, I'm expecting the currency pair to extend its sideways movement. Only escaping from this range could bring new trading opportunities.

Technically, 1.0265 stands as an upside obstacle while 1.0103 represents a downside obstacle.

EUR/USD Trading Conclusion!

Jumping and stabilizing above the upside obstacle could bring new buying opportunities as the rate could resume its growth while breaking below 1.0105 could announce more declines.


Trading analysis offered by RobotFX and Flex EA.
Source #RobotFX Team
Labels:

Comments

Post a Comment

Popular posts from this blog

GBPUSD up and down. Back down testing 61.8% and swing area.

# GBPUSD tests 61.8% and swing area The GBPUSD is in an up and down day. The    GBPUSD  moved higher earlier. That move was helped by better than expected retail sales. However the high price today stalled near the high price from last week near 1.3643, and rotated back lower on the USD buying. The subsequent move lower now has the price back toward the 61.8% retracement along with a swing area between 1.35969 and 1.36034. As I type, the price has dipped below that swing area. What next? If the price can stay below the 1.36034 area, that would be the best case scenario for the sellers with the next major targets coming in at the 100 hour moving average 1.3569 (blue line), and the 200 hour moving average at 1.35609 (green line). The 50% midpoint of the 2022 trading range is just below those levels at 1.35526 and would be a another target on further weakness. A move back above 1.36034 with momentum would have traders looking again toward 1.3618 to 1.36271 and then t...
Post a Comment
Read more