Its been an indifferent week for the cross pair as its has lack real movement over the last four trading days.

Technical analysis studies shows that the pair has been ranging throughout the week as strong market forces have yet to effect real movement on the pair.

The pair started the week early Monday morning at 1.2940 with lack of momentum till Tuesday where is accelerated steadily reaching a Tuesday high of 1.2982.

The pair made a weekly high of 1.3017 on Wednesday with steady decline late on.

Its generally been a week of hovering for the pair as its seems directionless throughout the week.

Signals from technical indicators on the daily chart of the pair also indicate ranging market as the pair looked fair from forming any dominant trend.

As at today, Friday 10.10 GMT+1, the pair seems to be extending its reach towards 1.2850 as it looks to close the week some few pips lower than it started.

 

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