EUR/USD is predicted to extend its rangebound concept between one.0725 and one.0935 in the future months.
“We indicated very last Friday that “the bias is tilted to the upside but one.0775/eighty is performing as a pretty strong resistance and only a distinct crack of this amount would show a shift toward one.0825 has started”.
“EUR opened with a hole greater this early morning, nicely higher than one.0775/eighty in advance of moving to a significant of one.0935. While the undertone is even now obviously positive, the issue now is whether the existing EUR strength can be sustained in the coming days”.
“Based on the above-extended up-shift, EUR is much more probably to consolidate its gains and trade sideways for several days, probably holding between one.0725 and one.0935. Further more out, as extended as one.0725 is not taken out, the odds for an upside crack is greater”.