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EUR/USD – When Do Range Conditions Give?

EUR/USD – When Do Range Conditions Give?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

EUR/USD – When Do Range Conditions Give?

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-Since the start of the year, EUR/USD daily RSI has oscillated between 60 and 40 (nothing above 70 or below 30). This ‘RSI profile’ indicates range conditions. At some point, these range conditions will break and a trend will emerge. When is that ‘some point’? I don’t know but it’s probably soon because this feeling of peak frustration is typical before a sizeable move. Price wise, a short term trendline is being put to the test. If it breaks, then short term focus is towards the year open at 1.0466 and maybe a lot lower given the 3 wave rally from the January low.

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

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