Don't get too caught up in the intraday moves in the EUR/USD. Taking a look at the Daily timeframe shows that the range has been tightening.Price has been hovering between 1.099 and 1.08 - with one failed breakout - for the past weeks.
Both EUR and USD saw some strengths recently after the FED rate hike in the US and the safe-haven flows in the EUR. Keep in mind that whenever you have two strong currencies, the currency pair will be ranging.
A look at the 4H chart shows a lot of imminent resistance to the upside. This pair is clearly a pass at the moment until the fundamentals change and/or when a technical shift has happened.
Both EUR and USD saw some strengths recently after the FED rate hike in the US and the safe-haven flows in the EUR. Keep in mind that whenever you have two strong currencies, the currency pair will be ranging.
A look at the 4H chart shows a lot of imminent resistance to the upside. This pair is clearly a pass at the moment until the fundamentals change and/or when a technical shift has happened.
I have been trading for 15 years!
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> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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.