The Euro yesterday gave up all of it’s gains verses the Dollar but stopped short of reaching new lows. The pair stalled out at 1.3540 and the previous lows were around 1.3531. Right now we could be entering a consolidated range trading period where the price will be waiting before making a decision which way that it is likely to go.
The current range is between 1.3531 and 1.3780 watch these levels closely for bounces off of and for possible breaks. The way to trade these is to enter trades if you see a bounce within the current range or make a trade if there is a break out of the range as well.
1 hr chart *Note Click on the Chart to learn about our trading service.
Many times a news analysis and the current fundamental sentiment is what will drive the price out of the current range. For a complete update of all the upcoming news releases visit Forex Crunch. In addition to that you can read additional analysis of the Eur/Usd at The Geek Knows.com
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