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Forex technical analysis: EURUSD chops it's way lower

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

  1. ForexLive

    ForexLive Forum Member

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    Be picky with entry. Yesterday the EURUSD tried to trend higher, but ran into Dudley comments which sent the pair back lower (the dollar higher). Since bottoming near the days 50% retracement level at 1.12494, the pair has been chopping around. Looking at the 5-minute chart below, the price has bottomed ahead of the 50% level the London low to high trading range is only 25 pips.

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