EUR/USD: No incentives to trade ahead of ECB

By FXstreet.com | 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.



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY crashes below 106.50, more downside in store
    Forex News

    USD/JPY crashes below 106.50, more downside in store

  2. Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude
    Forex News

    Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude

  3. EUR/USD bulls wake up and drive pair above 1.2800
    Forex News

    EUR/USD bulls wake up and drive pair above 1.2800

  4. Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?
    Forex News

    Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?

  5. AUD/USD Range Endures With Clearer Cues From Candlesticks Desired
    Forex News

    AUD/USD Range Endures With Clearer Cues From Candlesticks Desired

Trading Center