Tuesday, March 5, 2013

EURUSD: Inside Bar at Support 05/03/2013

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I did mention in my last commentary on EURUSD that it was on a support. Trading today was thin on the pair and the support is yet to be breached. An inside bar indicates indecision in the market. So it would be wise to wait this out. If the bulls do get in and push price higher, we would be looking to get in at about the resistance (about 1.3170) as indicated on the chart pending price action to rejoin the sell off on the pair.

My recommendation: stay neutral

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