Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
EUR/USD Ended July Where it Started (Doji Alert)

EUR/USD Ended July Where it Started (Doji Alert)

Jamie Saettele, CMT, Sr. Technical Strategist

Share:

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

High Frequency Trading Ideas and Traits of Successful Traders

-EUR/USD has been trading in a range since March 2015. This is one of the longest ranges (defined as length of time since a 52 week closing high or low) on record. I wrote several weeks ago that “if the move is lower then former channel support is probably resistance (blue lines).” That line was resistance but EURUSD has done nothing since then. Of course, the market has its own schedule. Price has been trading around a flat 200 day average for some time in what’s indicative of a ‘trendless’ market so a ‘move’ is due. I’m employing 1.11 (late May low and close to Brexit day close and 200 day average) as the bull/bear dividing line (spot is there now). SSI has flipped to negative, which is viewed as a positive for price.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES