Strong support and resistance. Ranging market
What a week !
Big movements were made but if we look at our technical chart, we will probably be not too surprised.
The support, now turned resistance line A is pretty strong and I will be watching out for this as the price seems to creep up again.
The support below A is in my opinion still an area to watch out for since for 2 days, it did not close below it.
My bias was previously towards strengthening USD.
However upon looking at a larger time frame, i concluded we could be in a big range for the medium term. ( It IS always good to fall back and see the bigger picture. )
Besides, oil and s&p likewise are somewhat ranging too.
Chart 2 shows the daily candles since june 7th.
We can see that the EUR/USD ‘s movement is rather bounded.
Perhaps the market feels that the current prices are best . . . for now.
Therefore, i expect that extremes will be around the 2 horizontal lines drawn.
Having said this, as we all know about the forex market, something in the world may change the next moment and thus is the excitement of the forex market 
Trade SAFE and grab those pips!
Cheers
