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Forex technical analysis: EURUSD back positive on the day

Discussion in 'Technical Analysis' started by ForexLive, May 17, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Closed at 1.1319 Traders are taking the EURUSD to new NY session highs and back above the close from yesterday at the 1.1319 level. The pair is also above the midpoint of the day's trading range at 1.13186 and looks toward the day's high at 1.13396. The high from yesterday peaked at 1.13416. The range remains very low at 43 pips for the day (that is the range for the week as well). Will this rally fizzle near the day/week highs. The data today was ok. The market seems to be lacking a desire to move.

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