Direct from the desk of Dane Williams.
Forex markets have seemingly calmed down over the past week, with the wild swings we saw creating tradable ranges in EUR/USD, becoming more settled.
The last time we spoke about EUR/USD was 10 days ago, when price had returned to higher time frame support.
Well, 10 days later and price is still at the level, unable to definitively bounce or break.
EUR/USD Daily:
You can see that the level is definitely in play, with price touching our line pretty much to the pip, then getting a small bounce.
But nothing significant enough to really write home about.
When zooming into an intraday chart, we haven't yet been able to find the type of price action that gives us a high risk:reward entry.
As long as price remains above higher time frame support, it's still in play for potential longs.
Something we'll continue to look out for.
Best of probabilities to you,
Dane.
FOREX BROKR | Hive Blog
Higher time frame market analysis.
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