Unlike the wild volatility in Gold, EURUSD has been relatively calm over the past two weeks.
After a sharp spike above 1.1500, reaching a high near 1.1570, the pair corrected and settled into a tight consolidation, fluctuating within just 1%.
Current Setup:
• Price recently reversed from the 1.1280 support and is now pushing towards the 1.1420 resistance.
• Bulls can watch for a breakout above this resistance, which could open the door for a retest of the 1.1570 high.
• As long as 1.1280 holds, the strategy is to buy the dips.
For now, the range is tight, but a breakout could offer some opportunities.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
After a sharp spike above 1.1500, reaching a high near 1.1570, the pair corrected and settled into a tight consolidation, fluctuating within just 1%.
Current Setup:
• Price recently reversed from the 1.1280 support and is now pushing towards the 1.1420 resistance.
• Bulls can watch for a breakout above this resistance, which could open the door for a retest of the 1.1570 high.
• As long as 1.1280 holds, the strategy is to buy the dips.
For now, the range is tight, but a breakout could offer some opportunities.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.