The price on the Eur/Usd In early morning trading has been in a tight trading range. A possibility for this is that traders are waiting for the pending homes sales news announcement at 10:00 am Eastern time. The expected result is 0.0% change which with all the contraction as of late that number would actually be good news. Traders should watch the news announcement and if that number comes out at no change or better, I would expect to see the euro gain strength against the dollar. So if that pending homes sales comes out worse than expected that could possibly be a driver for the dollar to rise against the Euro.
The recent resistance level on the Eur/Usd is 1.2900 so if the price breaks through that you might see a target rise up to another resistance level at 1.3012.
On the downside the support is at 1.2704 so it the pair drops below that the target could be the next support level at 1.2550.

Thank you for reading!

Please leave a comment below if you have any questions on this topic!

Also, please give this strategy a 5 star if you enjoyed it!


With over 50+ years of combined trading experience, Trading Strategy Guides offers trading guides and resources to educate traders in all walks of life and motivations. We specialize in teaching traders of all skill levels how to trade stocks, options, forex, cryptocurrencies, commodities, and more. We provide content for over 100,000+ active followers and over 2,500+ members. Our mission is to address the lack of good information for market traders and to simplify trading education by giving readers a detailed plan with step-by-step rules to follow.