The EUR/USD shows no signs of life consolidating within recent range, mute after the release of German ZEW survey showing investors’ confidence dropped for a ninth month in a row, down to 6.9 in September from previous 8.6 in August. EZ sentiment was also down to 14.2 from previous 23.7, despite ECB action announced earlier this month.
From a technical point, there’s a mild positive tone in the 4 hours chart, as indicators grind higher above their midlines, albeit price remains glued to its 20 SMA, unable to move either side of it. The expected range continues to be 1.2860/1.2990 and as long as those extremes hold, the pair will continue to lack direction. Bigger time frames show bears maintain the lead, as the daily chart shows indicators barely corrected extreme oversold readings, now turning back lower.
View Live Chart for EUR/USD
From a technical point, there’s a mild positive tone in the 4 hours chart, as indicators grind higher above their midlines, albeit price remains glued to its 20 SMA, unable to move either side of it. The expected range continues to be 1.2860/1.2990 and as long as those extremes hold, the pair will continue to lack direction. Bigger time frames show bears maintain the lead, as the daily chart shows indicators barely corrected extreme oversold readings, now turning back lower.
View Live Chart for EUR/USD
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