Yesterday morning, EUR/USD traded to lows at 1.0435 however in the 3 pm afternoon hour. A non normal and strange event inside a non normal price week. For the most vital 7 hour trade time, EUR/USD bottomed at 1.0473 in the 9 am Hour. The overall bottom was 1.0441. The 10 am hour, EUR/USD bottomed at 1.0466 and actual bottom at 1.0464. Not bad.

The 3 pm hour, EUR/USD actual bottom was 1.0412 and traded to 1.0435.

Here's the overall context to EUR/USD's larger range. Yesterday morning 1.0489 to 1.0382. The 10 am hour: 1.0491 to 1.0385. Today 1.0485 to 1.0377.

Once EUR/USD broke 1.0489 and 1.0491, EUR/USD became deeply oversold. EUR/USD is trading ever so slowly to lower levels and against massive oversold averages. EUR/USD is fighting against the oversold tide.

Yesterday morning 1.0489 to 1.0382. EUR/USD traded 1.0534 to 1.0473 or 61 pips in 7 hours. EUR/USD's full range potential was 105 pips.

The 10 am hour, 1.0491 to 1.0385. EUR/USD traded 1.0491 to 1.0466 or 25 pips. After 9 am, day trades are over as 24 hour trades began trading yesterday.

Note 108 pips from 1.0485 to 1.0377. The same range for the exact same period in 2012 was 113 pips, 2013 = 28 pips, 2014 = 23 pips, 2015 = 69 pips, 2016 = 38 pips, 2017 = 103 pips. 2018 = 01 pips. 2019 = 22 pips, 2020 = 51 pips, 2021 = 37 pips.

Today's 7 and 24 hour EUR/USD day trade at roughly 50 and 100 ish pips is found within the context of 1.0485 to 1.0377. A much easier trading life. The ECB engineered day trades within the context of larger ranges.

Previous EUR/USD day trades were aligned at 75 and 80 Vs 150 and 160 ish pips and far outside ranges. Trading life was far more difficult to day trades.

In the overall context of 50 pips, 75, 100 and 150, daily ranges for EUR/USD on June 29 as follows.

June 29, 2012 = 258 pips, 2013 = 112 pips, 2014 = 60 pips, 2015 = 324 pips, 2016 = 81 pips.

2017 = 73 pips, 2018 = 132 pips, 2019 = 90 pips, 2020 = 71, 2021 = 52 pips.

Most interesting to weekly trades overall is nothing changed to entries and targets. The same old story and factors prevail in 2012 as is today in 2022. 

Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.

Feed news Join Telegram

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD corrects below 1.0300 as DXY strengthens ahead of US Michigan CSI

EUR/USD corrects below 1.0300 as DXY strengthens ahead of US Michigan CSI

EUR/USD has tumbled to near 1.2850 amid a significant recovery in the DXY. A lower US CPI print has trimmed the odds of hawkish guidance while rate hike odds are solid. This week, the US Michigan CSI data will be of utmost importance.

EUR/USD News

GBP/USD pares US inflation-led gains near 1.2200, UK ministers’ meeting with energy firms, GDP eyed

GBP/USD pares US inflation-led gains near 1.2200, UK ministers’ meeting with energy firms, GDP eyed

GBP/USD remains pressured around 1.2200 heading into Thursday’s London open, having witnessed the most significant daily jump in two months the previous day. US Jobless Claims, PPI will also be important for intraday directions.

GBP/USD News

Gold: Sellers poke $1,784 support on Fed, China jitters

Gold: Sellers poke $1,784 support on Fed, China jitters

Gold price holds lower grounds around intraday bottom near $1,780, as bears attack the 50-DMA heading into Thursday’s European session. The precious metal respects the US dollar’s latest rebound amid mixed concerns surrounding the Fed's next move and China.

Gold News

Shiba Inu price edges close to a 60% breakout as bears watch in disbelief

Shiba Inu price edges close to a 60% breakout as bears watch in disbelief

Shiba Inu price shows a resilience that has not only kept it above a significant support level but also managed to slowly catalyze a move that could result in a 60% upswing.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Majors

Cryptocurrencies

Signatures