EUR/USD: Wednesday’s Intraday Snapshot (Trend, Levels, News, More)

EUR/USD

Trend (short-term): UP Market Background (mid-term): STRONG Supply/Demand: N/A Support (nearest): 1.1535 Resistance (nearest): 1.16104 Next Event: Industrial Production m/m (0h 14m) Next High Impact Event: EU Economic Summit (21h 14m) Volatility: REGULAR (-7% avg.) Daily Range (Expected): 1.1549 – 1.1618 / 47% of avg. daily range Completed

EUR/USD 1 hour Chart

Here we have an interesting situation. The price is in the range and we need to look at the resistance which is also the same level of upper daily range. If the price reaches that area of interest then we should look for possible reversals entries and also if the price breaks it with big volume then long positions should be looked for. Taking into account that the background is strong.

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