Eur/Usd: Has Been Secured In A Range

The Eur/Usd has once again found itself inside of a trading range that can be used to gain some good profits for trading. The support of the range finds the support at 1.5032 so I would look for this price to challenge anywhere as low as 1.5000. The resistance of this pair is at 1.5117 and the ceiling here could be anywhere from 1.5100 to 1.5125. As long as the prices stay within this price range I would look to sell near the resistance and buy near the support. The best time to buy and sell is off of a bounce off of these levels.

1hr chart    *note Click on the chart to learn about our trading room.

If you look at the chart you can see exactly where the price should turn. When the price breaks these levels that could either be the trend continuing or could signal a trend change. There is still some major news items that could help to determine the direction of this pair in the next two days of this week. The news calendar is full for tomorrow and Yohay has is fully covered, read the Forex Crunch Daily outlook.

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Casey Stubbs is the founder of Winners Edge Trading, which is one of the most widely read forex sites on the web. Winners Edge Trading has trained thousands of people to trade the Forex markets.

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