???URO – looking forward $EURUSD $6E_F

I was wrong on Fridays´s post. The big move never occoured.

After beign rejected at 1.3180-1.3120 level, dating back to late April/early May -as shown in the chart below- it found support in the 1.2890-1.2940 area, which was noted as a meaningful area where buyers acted before, on the Sep. 19 post.


It has been fairly balanced during the last week and I rather prefer to wait and see what happens once the above referenced areas are tested. 


As noted on the chart above, there´s been strong buyer´s interest in 1.2890-1.2940 area. My thinking is, if this area doesn´t hold, likely is that it will test 1.2755-1.2810 band, due to small interest in the 1.2805-1.2895 area. On the upside, 1.3050-1.3090 is the first threshold, followed by the -previously tested-  1.3120-1.3180, which has worked almost to the tick as seller´s got interested in acting -I´m attaching a close-up on the chart below.


Provided sellers are not successful in defending this area on a third attempt, the area between 1.3210-1.3250 is the one I´ll be watching, followed by 1.3285-1.3358, dating back to the last week of March.




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