News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
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

Daily

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

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