Eur/Usd Comments

[0FXTrader0]

Hourly charts are riding a wave 5. Looking to get above 1.23 today then a corective abc wave. Before a new implusive wave towards 1.25.

 

[0FXTrader0]

There must be a lot of selling pressure on the euro at these levels as we are at the top of the consolidation range. Many traders feel we are going to see side ways action as most summers are range bound.

The break of the range could see covering of usd longs and a fast move up. Non farm payrolls will be interesting this week. Us data seems to be average while european numbers are starting to beat forcasts and generaly improving.

any thoughts any one?