Peter Smith
The EUR/USD pair is in that familiar waiting game mode that forex traders know all too well. With the price stuck in a narrow band and important economic news on the horizon, it's one of those moments where patience pays off. The market is basically coiling up like a spring, building pressure on both sides before what could be a significant breakout move.
EUR/USD Price Shows Range-Bound Action
EURUSD is hanging around 1.1649, caught between resistance at 1.16824 and support at 1.16080. This kind of sideways action tells us that liquidity is building up on both sides of the range, just waiting for something to shake things loose.
Trader @mhtrading_smc pointed out this setup and stressed that the smart play here is simply waiting it out. The chart suggests we might see some liquidity sweeps before the real move happens, so jumping in too early could be a costly mistake.
Everyone's eyes are on today's big news releases, which could finally give EUR/USD the push it needs to break out of this range. If we see a clean break above 1.1682, the bulls could really get going. On the flip side, a drop below 1.1608 might trigger some serious selling as stop losses get hit.
Most traders are playing it safe right now, knowing that fake breakouts are common in these tight ranges. The smart money is waiting to see which side's liquidity gets taken out first before making their move.
EUR/USD Price Outlook
Right now, EUR/USD is stuck in neutral. A solid break above resistance could open the door to 1.1720, while a bearish breakdown might push us down toward 1.1580–1.1550.
The range is getting tighter, and with news acting as the likely catalyst, expect some fireworks in the coming hours. The key is staying patient and letting the market show its hand first.
Peter Smith
