DowntownForex

EUR/USD: Steady Moving In Ranges

By FXStreet -

The Dollar is calm across the board. In Wall Street results are mixed: the Dow Jones is down 0.1% and the Nasdaq rises 0.15%. EUR/USD is moving sideways in a small range between 1.4100 and 1.4125. Earlier the Euro rose to a two-week high at 1.4163 but failed to stay above and pulled back to 1.4100. So far today the pair is 0.10% above the opening price.

Valeria Bednarik, collaborator at FXstreet.com affirms: “Still bullish in the daily, pair still remains capped inside the daily triangle, and this far, daily candle is forming a doji, suggesting investors are not sure to take upside chances at current price. Daily close will be key for the pair, as if manages to close above the line, upside pressure could return with coming resistances at 1.4200 this month high, and 1.4337, that will be key for the long term trend in the pair. Close inside triangle, will made investors hesitate further, and correction could approach to the 1.4000 zone in the next 24 hours.”

• EUR/USD

EUR/USD (Jul 16 at 18:26 GMT)

1.4143/45 (0.31%)

H 1.4166 L 1.4052

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