We expect EUR to remain in the range as the ECB unlikely to alter the recent price action draft. The upcoming Press conference following the Governing Council meeting of the ECB in Frankfurt on July 26 represent uneventful for EURUSD trading.
Fundamentally, we believe today’s meeting will be neutral for EURUSD in the near term. But, the meeting is an opportunity for the euro cross trading (EURAUD, EURJPY, and EURGBP).
www.keytomarkets.com...oss-technical-focus/
Technically, Since the June ECB meeting, the price action has been locked in the range finds between 1.1850-1.1500. Recent price action has drafted a triangle pattern, with the RSI study is moving higher gradually. A bullish breach above the resistance trendline is needed, to run through the targets 1.1800 and 1.1850. Supports are at 1.1650, 1.1575 and 1.1500.
Intraday: 1.1650 is pivotal, supports are at 1.1600-1.1570 and 1.1500.
Fundamentally, we believe today’s meeting will be neutral for EURUSD in the near term. But, the meeting is an opportunity for the euro cross trading (EURAUD, EURJPY, and EURGBP).
www.keytomarkets.com...oss-technical-focus/
Technically, Since the June ECB meeting, the price action has been locked in the range finds between 1.1850-1.1500. Recent price action has drafted a triangle pattern, with the RSI study is moving higher gradually. A bullish breach above the resistance trendline is needed, to run through the targets 1.1800 and 1.1850. Supports are at 1.1650, 1.1575 and 1.1500.
Intraday: 1.1650 is pivotal, supports are at 1.1600-1.1570 and 1.1500.