EUR/USD Technical Analysis August 15, 2011

EUR/USD rose slightly during an uninspired session on Friday. The pair continues to drift within the downward channel, and traders are currently trading as if the market wants to figure out which currency is worse. The current action seems to be “stuck” between the 1.40 and 1.45 areas. Because of this, we are waiting to see a move above 1.45, or a mover below 1.40 in order to buy or sell, depending on the direction.

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