EUR/USD At 1.33 Key Support
PipHut | Sep 18, 2013 05:33AM ET
General Market Commentary: We are looking for four solid setups today, with plenty of good S/R lines (for both swing trading and candlestick trading). Happy pipping!
Yesterday’s EURUSD Signal Result: We stayed flat yesterday with a clear short direction to trend.
Today’s Signal: That looks like it will continue today with a lazy sideways range between 1.34 and 1.33 and no clear short-term direction. Plus we have plenty of fundamental risk today with the Fed rate decision due out at 18:00 UTC (which could easily cause market volume to drop and volatility to spike, kicking out false breaks in the process) so we will stay flat on EU, and wait for a better opportunity in the days ahead. Speaking of looking ahead, a sustained break below 1.33 will turn us short-term (and possibly long-term) bearish.
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