Looking at EUR/USD Chart, we can see that it has been mainly traded in a channel for the past week, falling from the 1.132 range to the 1.128 where it bounced nicely upwards reaching the 1.136, but being unable to hold on it if fell to the 1.132 where it consolidated. During Friday’s session, it pushed higher, climbing to the 1.138 momentarily, but it again experienced a retraction and a fall to the 1.134 where it is currently traded.
Today we could expect another attempt to climb and test the 1.138 resistance.
If however, it does not manage to hold above the 1.134 range then a move towards the support of 1.13 could be expected.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.