Gold Silver Reports (GSR) – The sideways movement has also narrowed in the last five weeks. A view of the daily time frame shows what appears to be a narrowing wedge. Resistance extends from the June 14th high while support begins with the June 21st low.       Â
The EURUSD consolidation may finally be coming to an end. Since late May, the single currency has struggled to break free from a 300 pip range after falling 900 pips between April 19th and May 29th.     Â
More recently, the pair has been unable to garner enough demand above 1.1730 to reverse the short-term downtrend.Â
On the other side of the range, the floor just above 1.1500 has held as support on two separate occasions starting with the May 29th low. – Neal Bhai Reports (NBR)
Comments are closed.