Carrying on from Friday the euro is looking hot to trot
1.1397 is the high as the buyers get back in after taking some profits on Friday. I was looking for them to have a little push through the 1.1375/80 area late last week and they managed a push to 1.1386. I thought we might see a run to try out 1.1400 but they couldn't manage it, and so we saw the profit taking coming in to push it back to 1.1350
Those that did look to be getting back in this morning and have probed the big figure
EURUSD H4 chart
The first attempt has been knocked back to 1.1385 and we could see support trying to build at 1.1380. It looks like the buyers will be fighting any attempts to sell into them roughly every 10 pips down from 80 to 40, and chances are that they'll fight all the way to 1.1300
EURUSD 15m chart
It's hard to see where the inspiration will come from today, aside from the CB speakers. That might make the big levels tougher to break through lack of incentive, so factor that in to your trading
Should we get a break through 1.1400 then 1.1450 is the big level to watch
