Today we see more ranging price action in EURUSD while the price holds above the 61.8% fibo level of the prior upleg. I wait for a breakout from the 1.4378-1.4520 range. Perhaps a partial retracement will provide an early signal.
2011/04/14
EUR/USD: rangebound
One Response to “EUR/USD: rangebound”
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April 15th, 2011 at 4:54 am
That sure looks like a dead cat bouncing… or so the trade lingo says. We’ve been fading that pair, but prefer to trade crosses when the majors get too extended.