The QE rumors and expectations pushed the EURUSD around throughout the week. All in all, the pair squeezed shorts out of the market for the majority of the trading week. Heading into next weeks trading all eyes will be on the Jackson Hole on Friday. Every piece of data and word from central bankers will change and modify expectations.
Currently the cross is resting near the top of a triangle. The top of the triangle is created by a descending trend line that has capped the price action for almost a year at 1.2620. The ascending trend line is created from the pairs recent accent starting last July and currently rest around 1.2350. Heading into the start of next week the cross is trading in a range between 1.2590 and 1.2480.
Keane Plan: The pair may drift in the range to start the week. Short squeezes higher may play out once again.
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