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EUR/USD Forecast: playing the range – FXStreet

FXStreet (Barcelona) - “Seems after posting a year low at 1.2357, investors are not sure of what to do next “ says Valeria Bednarik, Chief Analyst at FXStreet as EUR/USD trades uneventfully mid range, still without direction.

Key Quotes

“Shorts stand at extreme records according to latest COT report, yet the due upward corrective movement remains out of the picture for now"

“In the meantime, the 4 hours chart shows price advancing some but still below 1.2500, with indicators maintaining a neutral stance.”

“So far this week, the pair has found buyers around 1.2400 and sellers in the 1.2500 area, so it will take some steady move outside the 100 pips range to set a clearer directional move."

"In the meantime, playing such range with tight stops seems to be the name of the game.”

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