Don't get too caught up in the intraday moves in the EUR/USD. Taking a look at the Daily timeframe shows that the range has been tightening.Price has been hovering between 1.099 and 1.08 - with one failed breakout - for the past weeks.
Both EUR and USD saw some strengths recently after the FED rate hike in the US and the safe-haven flows in the EUR. Keep in mind that whenever you have two strong currencies, the currency pair will be ranging.
A look at the 4H chart shows a lot of imminent resistance to the upside. This pair is clearly a pass at the moment until the fundamentals change and/or when a technical shift has happened.
Both EUR and USD saw some strengths recently after the FED rate hike in the US and the safe-haven flows in the EUR. Keep in mind that whenever you have two strong currencies, the currency pair will be ranging.
A look at the 4H chart shows a lot of imminent resistance to the upside. This pair is clearly a pass at the moment until the fundamentals change and/or when a technical shift has happened.
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> Free weekly trading webinar: www.tradeciety.com/webinar/
> Free blog: www.tradeciety.com/blog