Wednesday, 7 October 2015

EUR/USD Range Continues




Yesterday I was looking at the EUR/USD four-hour filter chart and I was thinking that the pair would probably reach 1.1280 and then bounce off of it and that is exactly what happened. It reached that level, formed a doji candlestick and started moving to the downside again. Now the question is whether it will be able to break below the support 1.1230, because of it does it will mostly likely continue towards 1.1140. As it is, for now the tight range continues and I am starting to think that nothing short of Fed changing the interest rates will end it.

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