FX.co ★ Short-term view on EURUSD.

EURUSD is trading around 1.1268. Price has not made any real progress at the start of the week as price continues to trade inside the trading range. Traders need to be patient and wait for price to break out of the boundaries.

Red lines -trading range

Black lines -Fibonacci retracement

EURUSD continues to trade inside the trading range as we also mentioned yesterday. There is no breakout yet. Medium-term trend remains bearish. Short-term trend is unclear as price has exited the bearish short-term channel it was, but has not provided us with enough signs of strength. Breaking above 1.13 would be such a sign of strength. Until then EURUSD is vulnerable to more downside.