EUR/USD trapped between resistance and support, range-bound. A period of distribution could come into play at this juncture. Further to the prior analysis, EUR/USD Price Analysis: Conflicting weekly and daily outlook, bulls in driving seat, the euro has indeed moved to the monthly target as shown in the following charts. Prior analysis: Live market: In doing so, the case for the downside is more compelling and the following is a top-down analysis to illustrate where the next potential opportunity could arise for the bears. Monthly chart Hedge funds added 10.7K short positions and 3.8k longs were closed as the market moved in on the upside target within supply territory. Weekly chart The price continued higher to the monthly target and in doing so it created new support which is being tested ahead of the 36.2% Fibo target to the downside. Daily chart While there is a high probability that the price will now melt to at least a -0.272% of the latest upside correction in a fresh impulse, the pair remains trapped between resistance and support. The pair will now be monitored for a break out either way where higher probabilities will be found. 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 Ethereum Price Analysis: ETH sellers ignore bounce off 50-day EMA to cheer short-term support break FX Street 2 years EUR/USD trapped between resistance and support, range-bound. A period of distribution could come into play at this juncture. Further to the prior analysis, EUR/USD Price Analysis: Conflicting weekly and daily outlook, bulls in driving seat, the euro has indeed moved to the monthly target as shown in the following charts. Prior analysis: Live market: In doing so, the case for the downside is more compelling and the following is a top-down analysis to illustrate where the next potential opportunity could arise for the bears. Monthly chart Hedge funds added 10.7K short positions and 3.8k longs were closed as the market moved in… 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.
