The Euro rests, and it wont rest for long

Hi

Welcome to our blog. Lets see what  EUR/USD may have install for us…
We again saw the euro cross the 1.2330 again before not really going anywhere. It was another day that offered very little.

Context
The Euro is resting with last week’s range of 130 normally being a daily range. We now see Daily, weekly and monthly pivot as well as the 1.2330 level all grouped. Price has simply gone nowhere and while the Euro rests we must rest.

Technical Analysis
Everything has come together and will act like a magnet for price. We need to sit and wait until prce confirms a move away. The Euro is resting and it wont rest long...

The Day Ahead –
No Trading today… direction is a guess and I don’t want to guess.
The pair is especially vulnerable to surprise news at the moment and still needs some caution.
Bias- My overall bias is still short, but I need to wait for some evidence.

NO TRADE: I won’t be trading today. I await a clearer picture.

Short entry:
Long Entry:

All the best
PBT