Fundamental Analysis EUR/USD: September 27,2016
The pair produced 58 pip range for the traders while its daily average range should be more than 100 pips. The EUR/USD is situated in an open range for the past few weeks because there is a decline in the daily range which cause the traders to experience some trading difficulty. EURUSD trades with a similar range over the same extremes day in and day out.
Furthermore, it is already proven that euro ranked as one of the strongest currency that performed yesterday since it competently sustained its position against the U.S dollar and advanced in much higher level. Its lowest point still persists above the support seen at 1.1200 which also broke the resistance that comes in at 1.1245. It continually ascended and reached the 1.1275 and further confirmed its normal range. Support level settled at 1.1243.
According to forecasts, major news are not yet issued so the European region is expected to carry out another ranging day of trading. It is also recommended that traders and investors alike should mark the time for stable prices.
[ATTACH=full]7207[/ATTACH]
|