EUR/USD Analysis: Weekly range contraction warns of trend reversal [Video]

The market has been confined to choppy trading conditions over the past several weeks. We are however coming off an intense round of setbacks since topping out at a +3 year high in 2018, with the drop taking the price back into an area that roughly coincides with the 61.8% fib retrace off the 2017-2018 move, and a bullish breakout zone from 2017. This suggests that additional setbacks could continue to be very well supported, with the greater risk from here, for the formation of a meaningful higher low, ahead of a push back to the topside. Still, we will need to see a break back above the current 2019 high around 1.1570 to encourage this prospect. A weekly close below 1.1100 negates.

In this analysis, we take a look at EURUSD each day, highlighting all of the need to knows for anyone looking to extract up to date information on the major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding Euro or US Dollars, looking for an idea of where they may want to consider making that next conversion.

The EURUSD update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.