EUR/USD: Still stuck in classic sideways trade

Many have tried but nobody has yet convinced me that the EUR/USD is in anything but sideways trade (see chart) with weekly trend-lines coming in now roughly at 1.29/1.34. Of course it will eventually break out of this range but for now there are much more interesting pairs elsewhere. The shorter-term charts suggest a tighter 1.3050/1.3250 range and as we are currently right in the middle of this range, I’d sooner trade NZD/CAD (and that’s saying something!)

  1. Hey,check out ur twitter handle,i got something interesting on USD/JPY.That bounce from a fibo level kinda excites me.Good omen on upcoming US Data?What’s your take?Cheers

  2. Shall listen to u half-heartedly since i have been on a losing streak lately.Learnt a long time ago,the most important thing for a trader is to impose stops.That way u stay liquid and in the game for a very,lonnnngggg time 🙂

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