I kept one eye on the market while I was away and saw a fairly consistent theme of commodity selling and dollar buying. I spent most of the day watching price action and reading the tape to get back into the groove. EUR/USD is obviously pushing the lower end of the 1.5300-1.6000 range that has held us captive since March. Will it break? I am not sure yet. EUR/USD was trading on the offered side this afternoon looking poised to break 1.5300, but oil pulled a $2.00 rally from the $117.92 low to close around $120.00 keeping EUR/USD supported.



Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

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