Both the two major market movers in the MKR/USD market have come under a weak driving force.
Traders may have to let the present trade formation of the MKR/USD market regain its definite active driving force before considering joining the market again.
MKR/USD Medium-term Trend: Ranging
Distribution territories: $800, $840, $860
Accumulation territories: $640, $600, $560
The market driving forces in the MKR/USD trade have been coming up in a range. About between June 8 and until now, the pair has been more of slightly declining within the range than swinging upwards in the range zones.
The market has been fluttering in the small space found between the 50-day SMA and the Bollinger Lower Band east-trending lines. Over time, the Stochastic Oscillators have been consolidating around…