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The EURUSD pair experience quite some unusual happenings yesterday. Posting the highest volume on the Globex for yesterday of over 100,000 a clear 20,000+ points from the next in line JPY, the spread (or range) of the candle did not seem to be indicative of this occurrence as the pair did a daily range of just 49 pips (less than 50% of its 260-day average range).
In the later session of NY yesterday, we saw price stay entrapped within a symmetrical triangle, this consolidation continued until early Asian session on Thursday when price finally broke out to the upside.
I am of the opinion that the EURUSD pair is ready for an utterly explosive move today bearing in mind that the minimum bid rate for Euro will also be announced today.
Can price trade up to 1.106x? Will I be asking too much if we requested for an extension of this up move to 1.1130?
Do the bears really have any say as regards this impending up move?
Let's see what the market will do. Sit back, relax and enjoy the unfolding of the forth coming events.
In the later session of NY yesterday, we saw price stay entrapped within a symmetrical triangle, this consolidation continued until early Asian session on Thursday when price finally broke out to the upside.
I am of the opinion that the EURUSD pair is ready for an utterly explosive move today bearing in mind that the minimum bid rate for Euro will also be announced today.
Can price trade up to 1.106x? Will I be asking too much if we requested for an extension of this up move to 1.1130?
Do the bears really have any say as regards this impending up move?
Let's see what the market will do. Sit back, relax and enjoy the unfolding of the forth coming events.