FX Pairs in Tight Trading Ranges

Looking back on the last trading days this week failed to provide traders with large weekly gains. Both EUR/USD and GBP/USD remained in tight price ranges, providing almost zero trading chances. The DAX on the other side provided some volatile movements but unfortunately not in favour of huge gains. However, we are patient and wait for better opportunities in the next week, or maybe even today. Let’s see.

EUR/USD: Above 1.2155 the euro could head for a test of 1.2175. Below 1.21, the pair may dip to 1.2060. Chances are slightly in favour of the bears.

GBP/USD: The pair started to correct recent gains and could be on its way towards 1.3760 and possibly even 1.37. For bullish action to gain traction we would need to see a renewed break above 1.3860. A higher target is seen at 1.3950.

Have a nice weekend everyone!

We wish you good trades!

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