TechnoMeter

Since the day after the Brexit vote, EUR/USD has been trading in a fairly tight trading range on low volume. In fact, the highest high to the lowest low for the past 20 trading days is the tightest range seen in EUR/USD since August 2014.
Beginning June 24 to today, the highest high is 1.1185 and the lowest low price is 1.0951. Therefore, if price pushes down to 1.0900-1.0951, we could see some volatility kick up as traders jockey for bullish support versus a bearish break.



All of this points towards a market condition geared towards range bound strategies in EUR/USD until we see a break of the post Brexit range of 1.0951 – 1.1185. Even still, a break of this range doesn’t necessarily negate the potential for range bound conditions.


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