Rough Seas

The EUR/USD currency pair continues to flounder in a choppy market. Clear trends have not been evident. At best we look to scalp the pair within a 1.3600/1.3680 range. With the upcoming US holiday on Monday we don’t expect to see much action today.

Euro Sends Mixed Signals

We booked a nice profit yesterday as the EUR/USD currency pair topped out at 1.3679. Price is now trying to bounce from the 61.8% Fib level. That could signal another attempt to test resistance at 1.3703. But our indicators are neutral at best this morning. We’ll look to go long again if momentum picks up above 1.3625.

Correction Over

At this moment the EUR/USD pair is attempting to take out the psychological resistance at 1.3630. If accomplished, we should see another push higher. A lot of stops my be taken out this morning.

Euro Stalls

The combination of the bank holiday and the lack of news left the EUR/USD currency pair rangebound for most of yesterday. The pair didn’t get going until the Asian session. Currently the hourly studies look slightly overbought so we will look to buy on market dips.

Consolidating Euro

The EUR/USD currency pair is currently consolidating some of the gains made Friday. Our indicators show a bullish bias but barely. We are inclined to take a long position around 1.3675 as long as support holds at 1.3648.

Euro Moving Higher

The EUR/USD currency pair is currently consolidating at our intraday resistance of 1.3565. A clear break of this level looks to move the EUR toward the 1.3700 level. We’ll keep a close stop. We’ll go short if the EUR/USD struggles at this level and look for support at 1.3535.

Slight Bump After Fed Move

The EUR/USD currency pair seems to be consolidating following Friday’s gains following the Fed cut in the discount rate in the US. Our indicators are currently neutral with a slight bullish bias. We will watch 1.3508 as our trigger to take a long position with tight stops.

Possible Reversal For The USD

Once again we were successful with our short trade on the EUR/USD currency pair. We currently see our indicators moving toward neutral so we’ll look for support around the 1.3385 area. That could signal a rebound for the EUR. Add to that the US housing data and you have an opportunity for a long position today. Watch for a trigger around 1.3420.

Where's The Bottom

We were lucky enough to short the EUR/USD currency pair at 1.3583 yesterday and book a nice profit. We are watching the trigger point of 1.3476 for our next trade. A break below will open another short trade. With US CPI numbers due this morning at 12:30 GMT we will most likely jump in after that.