THE EURO VS THE DOLLAR
Re-visiting the EURUSD from the daily perspective.
This pair has been ranging for a while now and what we have been trading is simply the price fluctuations within the consolidated area, spanning over about 4 months now.
What’s next for the Euro Dollar? We can see price has acted as a trendline Support & Resistance flip and now testing again.
This might be a case of too many knocks and it wants to break higher or might be another bounce. Whatever the case, let’s ensure we follow Price accordingly.
One thing I will say is that the Greenback has been weak for a while now especially after the US election results but it’s rather slow/timid in following through this week.
The Market seems to be sluggish of late, it needs some high impact news to create better volatility.
Always combine the Fundamentals with the Technicals and trading would be better at the end of the day.