The common European currency is trying to break above the upper border of this month’s range. There are some positive results – EURUSD has updated the local high at 1.4475. However, it is still not clear whether it will succeed in consolidating above the border.
For today’s American treading session the Department of Volume Analysis of has defined the following trends:
The mid-term trend of EURUSD: widening range
The short-term trend of 6ЕU1 (EURUSD futures) is the following:
The reference point is 1.4350 (over 53000lots). The bulls will have to make the price consolidate above the level if they want to initiate a rally. Otherwise the bears will get an opportunity to start a downswing after moving the price back into the range.
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