EUR/USD Major Range in Play no Breakout Yet

The EUR/USD is fully rangebound. We can see that the price is going sideways in the form of rectangle which indicates no real trend.

Although the EUR/USD might seem slightly bullish there are 2 major zones to pay attention to. 1.1370-1.1260. No breakout yet as the pair is sold from the top and bought at the bottom. If we see a breakout above 1.1370, next target is 1.1432 and below 1.1260 next target is 1.1162. At this point it’s getting close to resistance and it might drop. Median point is 1.1298 so intraday traders might look into the level for some quick scalps.

The Analysis has been done with the CAMMACD.Core and Sit Systems

For a look at all of today’s economic events, check out our economic calendar.



Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.