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EUR/USD Digests the Gap; Breakaway Variety?

EUR/USD Digests the Gap; Breakaway Variety?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-“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.” The gap through a trendline is a great way for a ‘sizeable move’ to begin. A trendline confluence is near 1.1000 and could influence for a pause. After that, the long term median line is near 1.1100. If that breaks, then start getting creative on where this could go.

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

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