EUR/USD’s daily chart shows a sideways channel pattern. A key oscillator indicates the pair could revisit the channel support. EUR/USD is looking to begin the week on a positive note. The pair is currently trading at 1.0905, representing marginal gains on the day. However, despite the early uptick from 1.0894 to 1.0905, the bias remains neutral, as the pair remains stuck in the 7-week range of 1.1020 to 1.0730. A close above the upper end would put the bulls into the driver’s seat and open the doors to 1.1148 (March 27 high). Acceptance above that level would shift the focus to 1.1239 (Dec. 31 high). Alternatively, a range breakdown could cause more sellers to join the market and shift risk in favor of a re-test and possibly a break below the 2020 low of 1.0636 reached on March 23. A drop to the lower end of the trading range looks likely as the daily chart stochastic oscillator, which works ideally in a sideways or trading range market condition, has turned lower. The term “oscillate” means to move between a high and a low point on a regular basis. As noted earlier, EUR/USD has been restricted to a narrow range of 1.0730-1.1020 since early April. Daily chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Price Analysis: Portrays falling wedge on hourly chart below 1.2200 FX Street 3 years EUR/USD's daily chart shows a sideways channel pattern. A key oscillator indicates the pair could revisit the channel support. EUR/USD is looking to begin the week on a positive note. The pair is currently trading at 1.0905, representing marginal gains on the day. However, despite the early uptick from 1.0894 to 1.0905, the bias remains neutral, as the pair remains stuck in the 7-week range of 1.1020 to 1.0730. A close above the upper end would put the bulls into the driver's seat and open the doors to 1.1148 (March 27 high). Acceptance above that level would shift the focus… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
