EUR/USD: No incentives to trade ahead of ECB

By FXstreet.com | Updated August 04, 2014 AAA

FXStreet (Bali) - EUR/USD traded in a minuscule 1.3410-30 range amid the combination of being a Monday of August, and on top of that, having an ECB monetary policy meeting on Thursday.



According to Jim Langlands, Founder at FXCharts: "The charts are pretty much unchanged, with the only difference being that the short term charts have now more or less unwound their oversold condition and should continue to flatten out in the coming session."



"While the major downtrend remains intact, ahead of the likely dovish bias from the ECB, it looks as though we could continue to hang around current levels where the 200 WMA continues to act as a magnate", Jim added.



You May Also Like

Related Forex Analysis
  1. Forex News

    EUR downside supported at 2014 low - FXStreet

  2. Forex News

    Caution Holding Euro, USD, and Yen Positions as Borrowing Costs Rise

  3. Forex News

    Fed has restored investor’s confidence - FXStreet

  4. Forex News

    EUR/USD downside fully exposed

  5. Forex News

    US dollar rally set to extend further - BTMU

Trading Center