The EUR/USD pair continued to bounce around in the relatively tight consolidation area that we’ve seen over the last couple of weeks. The 1.3150 level continues offer support, as the 1.33 level continues offer resistance. Going forward, we think that it will take a break above 1.33 or below 1.3150 to get any type of clarity in this market at all. Until then, we see this is a short-term scalper’s type of market that will do well for people playing the short-term charts. Once we get a significant break out though, we are willing to follow the market for an extended period of time.
Written by FX Empire