EUR/USD trades quietly in the 1.4915 area as its rebound lost steam in the low 1.4920s. Having visited the buy-zone in EUR/USD this morning below 1.4850, we trade now in neutral territory. That territory extends to about the 1.5015/20 area and through to 1.5050/60.
The 1.48/1.51 double-no-touch strategy that has gotten so much attention over the last week expires tomorrow at 15:00 GMT. I suspect, as I said yesterday, that a profitable strategy will not be abandoned and that the longer-dated 1.48/1.51 DNTs have probably been put into place.
Bottom-line: More range trade ahead, with an upside bias as long as the medium-term uptrend (today at 1.4780) is intact.
