Toying with a break, but faking the traders (and me) out....
The EURUSD has been toying with the 1.0706 level today. Looking at the 5 minute chart, there are 6 bars where the price has traded above the level. One bar closed above. The rest tried but failed. Patience is running thin for the buyers. PS. The high reached 1.07135.
The last 5 bars above have seen the lows after the fail, stalling at 1.0698 (that was the lowest low). So buyers are not exactly feeling too much pain.
However, you expect more on the break and those buyers can turn to sellers just as easily if there is no love.
Trading can go either way but my guess is a decision will be made soon. Which way are you thinking?.