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EUR/USD – Awaiting range breakout

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD once again failed to take out multiple key Fibo levels – 1.1418 (23.6% of Mar 2015 low-Aug 2015 high) and 1.1432 (76.4% of 1.1714-1.0517) on closing basis. The pair formed another spinning top, making it a third one in last four trading sessions. Euro is being supported by a sharp rise in EUR/GBP cross, although gains are hard to come given the sharp drop in the EUR/JPY cross to near one-month low. Technicals – Bullish break would expose 1.15 handle Hourly chart above shows the pair

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