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.
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.
More recently, the pair has been unable to garner enough demand above 1.1730 to reverse the short-term downtrend.
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)
