Key Technical Levels
The Euro/Dollar continues see its upside limited by the 20-Day SMA at 1.4866 which has led to the pair settling into a range. 1.4700 is serving as the lower bound giving traders definable levels for exiting and entering positions.
Quantitative Metrics
The EUR/USD has seen its ATR start to rise as the pair has seen a pickup in volatility as risk appetite has become sporadic. A daily range of 141 pips remains in line with other major pairs, but at only 0.94% of the spot price, it becomes more attractive. A narrowing Bollinger band speaks to their pairs recent range bound activity which is a bonus for scalpers. However, be aware that if the band becomes too thin a breakout may be imminent.
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To discuss this report or be added to the email list, contact John Rivera, Currency Analyst: jrivera@fxcm.com
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