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The US Dollar is Ranging at Court Term Sell at the Top and Buy at the bottom
The US Dollar is Ranging at Court Term Sell at the Top and Buy at the bottom
Posted

By - Jamel Lahiani

Posted - 08-08-2019
  • The EURUSD is ranging at short term: Sell at the top and buy at the bottom.

Today our analysis will be concerned with EURUSD: The most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

CLICK ALSO: The EUR/USD is Waiting a Confirmation to Establish the New Direction

GRAPHIC 1: EURUSD HOURLY CHART (AUGUST 08, 2019)
There is no important new information coming up so the market in this situation will be ranging. The hourly chart is ranging between two limits at the top the red line and at the bottom the green line. At court term, a good strategy could be to sell at the bottom around the red line and take profit at the green line. In the other side a buy decision could be taken at the bottom of the market around the green line and take the profit at the red line.
If the chart breaks one of the two sides of the range and close outside, a new trend could be considered and testified at shorter time frames.

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