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EUR/USD: Range Extending; Bullish Money Flow

Published 02/26/2015, 05:38 AM
Updated 07/07/2019, 08:10 AM


The EUR/USD pair continues moving sideways. There is no clear shape or pattern to the consolidation. In the absence of stronger momentum higher it appears more like a correction than a reversal.


The longer-term trend is down and so the odds favour an eventual break lower, with a move below the swing lows at 1.1261 confirming a probable break lower, towards a target at the close price of the January lows at 1.1160.


Alternatively there is a possibility of a rally, with supporting evidence from the currently bullish Money Flow Index indicator, although a break above the range highs at 1.1533 would be required to confirm such a move, with an initial target situated at 1.1615.

EUR/USD Hourly Chart

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