By: Bradley C Smith
EUR/USD Technical Analysis
Price action for the EUR/USD on it's daily chart, has defied the requests of each of the four indicators on it, for any excuse for upward movement. With no hard hitting news releases for this pair today, it is likely to be range bound or to continue the downtrend for February the 8th.
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I would isolate any trades to shorts of high spikes, that would take advantage of a potential range bound future, or future that continues the trend for this pair today.
Looking closer at the pair that the “market movers” have now clearly favored the USD on. With the first hours all we have to analyze so far this week, it seems the United States Dollar is again likely to enjoy the love of banks around the world again.
Take the trade recommendation in the first paragraph to make that trip to the pub at the end of the week with a smile.