EUR/USD Major Range in Play no Breakout Yet

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The EUR/USD is fully range bound. We can see that the price is going sideways in the form of a rectangle which indicates no real trend.

Although the EUR/USD might seem slightly bullish there are 2 major zones to pay attention to. 1.1370-1.1260. No breakout yet as the pair is sold from the top and bought at the bottom. If we see a breakout above 1.1370, the next target is 1.1432 and below 1.1260 the next target is 1.1162. At this point it’s getting close to resistance and it might drop. Median point is 1.1298 so intraday traders might look into the level for some quick scalps.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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