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Mar 03 - 07:55 AM

EUR/USD - Keeps Stretching Envelope But Can't Break Its Seal

By Jeremy Boulton  —  Mar 03 - 07:04 AM
  • EUR/USD has been trapped this year nL2N2L10EK

  • Long positions weighing on rallies but bull trend strong

  • Pair is snapping back quickly after testing limits of 20-day Bollinger bands

  • Early Jan pushed above upper band, dropped below mid-point within two days

  • Quick reversals after downside rejections mid-Jan and early Feb

  • Feb 25 saw 2nd upside failure and rapid reverse. Yesterday bounced off base

  • Today's probe over mid-point of bands has been followed by a swift reverse

  • Trading ranges inspired by the bands is clearly a successful strategy



EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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