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EUR/USD Takes 7 Days to Rip off Daily Support

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@forexbrokr
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Direct from the desk of Dane Williams.


After EUR/USD held daily support, we last night finally got the big rip we were waiting for off the level.

Take a look at the daily chart.

EUR/USD Daily:

That latest retest of support saw price sit on the zone for 7 days before the bulls took control.

Interesting to note that EUR/USD is pretty much just respecting the USDX range.

Not all that surprising considering that the USDX is largely made up of EUR/USD, but still interesting none the less.

Especially if we see a decoupling of one at support and the other at resistance - That's where watching the USDX is really helpful.

Best of probabilities to you,

Dane.


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