EUR/USD: Breaching the support or resistance is needed for direction [Video]

EUR/USD: Breaching the support or resistance is needed for direction [Video]

EUR/USD

The euro continues to fluctuate in a near term band of around 125 pips against the dollar. There is little real direction as the market remains steady between support at $1.0765 and resistance of the mid-range pivot at $1.0890. Momentum indicators remain becalmed in a state of consolidation, with the price sitting steady in the lower half of the six week trading range between $1.0725/$1.1015. Across the course of last week the market fluctuated within this tighter band but lacks direction. There is the slightest negative bias as Stochastics (the most sensitive momentum indicator) edge lower, but the last two candles have cancelled each other out and the market is all but flat tis morning. So, breaching the support or resistance is needed for direction. Support of note is at $1.0765 with resistance at the pivot of $1.0890. For now, much else is just noise.

EURUSD

 

 

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