Event Risk

Yesterday's price action failed to trip our long trade by a few pips.  The market has since returned to our support area around 1.2800.  A break of this area will open the door to lower prices. Intraday studies are approaching oversold levels so we'll watch for the market to give us direction.

We also have significant event risk today with both Eurozone and US CPI numbers. As always we will use the Institutional Forex System to catch some pips.