EUR/USD: Likely to trade between 1.1595 and 1.1645 – UOB Group

💡 DMK Insight

We’re stuck in a tight range between 1.1595 and 1.1645, and here’s why that’s crucial: Range trading can often lead to volatility spikes when prices hit either end. For day traders, this means potential quick profits if you time your entries and exits well. Watch for a breakout above 1.1645 or a drop below 1.1595—those levels could trigger significant moves. If we break higher, the next resistance might come into play around 1.1700, while a drop could see support tested at 1.1550. But don’t forget, this range-bound action could also indicate indecision in the market, so be cautious of false breakouts. Keep an eye on volume; if it spikes during a breakout, that’s a strong signal. Also, consider how this range might affect correlated assets like EUR/USD pairs. If you’re trading those, similar price action could unfold. So, keep your charts updated and be ready to react as we approach those key levels.