EURUSD Consolidation Is The Game But For How Long

The EURUSD continued to trade within a narrow range on Wednesday.  The pair moved down to test support at 1.30 but could not find the conviction to break below.  The cross has been trading in this style for over the last month or so.  Slow range bound trading followed by a burst of action.   It looks as though the trend will continue.  A break of support at 1.30 favors a move lower towards 1.2820.   Resistance doesn't begin until 1.3170.  German PPI is due in European trading Thursday.  Economist are predicting a reading of 1.5%.

Sup   1.30

Res   1.3170

Keane Plan...Looking for a break of the range.  Watching price action at the edges.

 

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