Since mid-week the EUR/USD has been under-performing bound within the range of 1.1188 - 1.1150. The lack of fresh news to stir the market is obvious and traders and investors are not interested in investing in something that would not do anything. So they shift their attention to more volatile pairs and commodities that beat the EUR/USD in volatility.
No major news are expected today so we might witness a calm and non-eventful time for the EUR/USD. Short-term trend is bullish with price currently in the support zone at 1.1140. Below 1.1140 bears will try to take control and further depreciate price to 1.1080.
Chart: EUR/USD H1
Congratulations for the post, very helpful.
ReplyDeleteExcellent analysis!
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteI think that the sell entry could be around the current supply zone of 1.1320 - 1.1400
ReplyDeleteConsolidation will probably end after the holidays.
ReplyDeleteSideline trading continues around 1.116.
ReplyDeleteIt was interesting to read! Thanks a lot!
ReplyDeleteA good post with good insights into the situation.
ReplyDelete