EUR expands its lateral process versus USD
7/10/2017 6:50:29 PM
The EUR/USD pair expands its lateral process into early Europe, having traded in a 15-pips range around 1.1410 handle all over the Asian session.
EUR/USD viewpoint is able of re-testing the 2 year persistence line at 1.1465, but should stay capped there: The EUR has recovered off the May high about 1.1303 and is able of re-testing the two year persistence line at 1.1477. With a 12 count evident on the daily chart, and TD persistence at 1.1525, we search for this to cap. The market will find immediate support at the 1.1268 3 month upward tendency and this guards the more important 1.1108 end of May low.
FOREX market analysis by FxErvin.