Small Trading Ranges

The Euro’s dip below 1.1580 against the U.S. dollar has proved to be limited with the EUR/USD currently stabilizing above 1.16. In short-term time frames we recommend traders to watch out for price breaks either above 1.1660 or below 1.1585. A potential break above 1.1660 could pave the way for a higher target at 1.1690/1.17.

The GBP/USD was confined to a small trading range on Monday while none of our daily signal entries was triggered. The focus is on a trading range between 1.38 and 1.3650.

The DAX corrected some of its recent gains and short traders were able to profit. As stated in yesterday’s analysis, we see a lower support at 15300 while, on the upside, we will pay attention to a break above 15800.