Direct from the desk of Dane Williams.
After EUR/USD held daily support, we last night finally got the big rip we were waiting for off the level.
Take a look at the daily chart.
EUR/USD Daily:
That latest retest of support saw price sit on the zone for 7 days before the bulls took control.
Interesting to note that EUR/USD is pretty much just respecting the USDX range.
Not all that surprising considering that the USDX is largely made up of EUR/USD, but still interesting none the less.
Especially if we see a decoupling of one at support and the other at resistance - That's where watching the USDX is really helpful.
Best of probabilities to you,
Dane.
FOREX BROKR | Hive Blog
Higher time frame market analysis.