EURUSD - Still Ranging

FX:EURUSD   Euro / U.S. Dollar
690 7 38
Last week we established bearish bias & it pretty much unfolded as we assumed. I see lot of people getting excited about the down fall but in my view, things have not changed much. The pair is still range bound & has obstacles on both ways every 30-40 pips randomly. Currently the intraday approach for banking 20-30 pips is best strategy IMO             . Still preferred direction is to the south but be cautions & not over ambitious.

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Hello Dear! In my View the Dollar will Strengthen in some 2-3 days but then accumulate before the G7 meeting. But we have to take clear view of Building Permits and CPI as well. Those are important.
+1 Reply
FxSaint AhsanKhan
Thank you for comment, I will be watching this closely for intraday in & out levels & will only plan big swing after breakout of range.
Nice. I think downtrend is likely. EUR Industrial production and GDP came out worst than expected and with CPI news coming next week keep an eye out for a further drop and maybe even breaking down/out this channel. US retail sales and consumer sentiment was better than expected so adds more weight to downtrend.
There is also a pin bar formed in previous weekly candle which indicates a reversal. Gd Luck.
+1 Reply
FxSaint PCTradeKop
Though I m not good at interpreting all the fundies, but technically its more bearish than bullish. However there are not enough sign as of now that things will go downward as fast as one expects. I m more bearish neutral to neutral at the moment. All good short entries have too be taken from top of the range & if someone missed those than its safe to play on intraday on this pair rather being more ambitious. More good entries will be after break of the range, downwards or upwards only time will tell.
welcome have a beautiful weekend
+1 Reply
true....good eye
FxSaint piletji
Thank you piletji
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