Maybe there is a shot to extend the range for the week.
As mentioned earlier, the EURUSD is in a 94 pip trading range for the week. If that holds, that would be the lowest range going back to August 2014. : (
The bias was more bullish today (at least the price was higher). From the earlier post to extend we needed to get a close above the 200 hour MA. We did that.
The trend line and 38.2% was the next target. We got above that (and just held support at the line).
Next is to reach the 1.12069 which is the 50% of the move down from the June 14 high. A move above that and the 1.1212 high is within sites. Get above and the 94 pip range is extended. Yippee!
Hold on. Having said that, the lowest range since August 2014 has been 106 pips. : (
If the 1.1212 level is broken we would still need 12 more pips to get to the lowest range level. So from my calculations we would need to get to 1.1224 to get to a tie for the lowest trading range week since August 2014.
Can we get there?
Drive for 1.1224! We can do it!!! Don't give up. : ) If we get there, we can make a feel good movie about it.
