Trading Alert: Watch EURUSD 1.16

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Tuesday October 5, 2021 - 13:23:01 GMT
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Trading Alert: Watch EURUSD 1.16

Source: Pixabay

As you can see by the table below, EURUSD, after breaking a major 1,16 support (and Amazing Trader target) at 1,.16, it has yet to distance itself from this level. In fact, it has traded on both sides of 1.16 for the 5th day in a row today.

I go on alert when a currency trades around a big figure (e.g. 1.16) for an extended period as the longer it goes on, the greater the chance of a directional move once the pattern is broken. Note, while the pattern continues, range traders looking for limited follow-through are the ones rewarded.

See the video below for a further explanation.

Date

Close

Low

High

Oct 5

1.1589

1.1620

Oct 4

1.1621

1.1587

1,1641

Oct 1

1.1594

1.1563

1.1608

Sept 30

1.1581

1,1552

1.1611

Sept 29

1.1595

1.1589

1.1691

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Tuesday October 5, 2021 - 13:23:01 GMT Global-View.com - www.global-view.com

Trading Alert: Watch EURUSD 1.16

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Tuesday October 5, 2021 - 13:23:01 GMT
Global-View.com - www.global-view.com