Eur/Usd: Range Trading Conditions

Tuesday Feb 10, 2009 4:17 pm Est.

Casey Stubbs– Winners Edge Trading

The Eur/Usd Pair repeated yesterdays activity almost exactly by running up to the resistance level of 1.3050 forming a double top in the two days trading. In the past two days the trading of this pair has been range trading as the range has been from 1.2700 to 1.3050. This range makes for good range trading strategies such as an RSI strategy or a Stochasitics strategy. The market can’t seem to make up it’s mind about which way to move, possible the upcoming unemployment data will help move the market in one way or the other. The current resistance level is 1.3091 and the support level is 1.2700. The pair has been trading in between those levels for the last eight days.

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