10 Feb 2014
EUR/USD opens lower, still above 1.3600
FXStreet (Córdoba) - The EUR/USD opened the week marginally lower with a gap at 1.3610 and moved slightly to the upside afterwards, but unable to close the gap. On Friday, the Euro rose for the third day in a row and closed at 1.3635, the highest since January 29.
EUR/USD Key near-term resistance at 1.3700
According to Nial Fuller from Learn to Trade Market the EUR/USD is trading in a range between 1.3700 and 1.3475. “We could see the market re-test the resistance near the top of this trading range up at 1.3700 this week, if that happens traders can keep an eye out for bearish price action strategies there to trade back down toward the trading range support”, said Fuller.
During January the EUR/USD traded on top of 1.3700 on various occasions but it was never able to confirm above the mentioned mark and triggered downside moves.
EUR/USD Key near-term resistance at 1.3700
According to Nial Fuller from Learn to Trade Market the EUR/USD is trading in a range between 1.3700 and 1.3475. “We could see the market re-test the resistance near the top of this trading range up at 1.3700 this week, if that happens traders can keep an eye out for bearish price action strategies there to trade back down toward the trading range support”, said Fuller.
During January the EUR/USD traded on top of 1.3700 on various occasions but it was never able to confirm above the mentioned mark and triggered downside moves.