ClearEdgeFX

EURUSD - DECISION TIME APPROACHING - 1.0450 OR 1.1800?

FX:EURUSD   Euro / U.S. Dollar
109 1 3
EURUSD             continues to compress and is coiling up for what could be an explosive breakout. The question, of course, remains which will it go. Will it be re-testing the March bottom of 1.0450? If it breaks the ascending trendline and takes the 1.0800 supply zone then all bets are off, especially if we take into consideration that tops and bottoms are generally tested a couple of times before they reverse for good. The other scenario, of course, is a re-test of the August 1.1800 high that violently reversed. Either way, we don't have a bias and we're patiently awaiting for the market to give us more clues on terms of what position to take.
Nice analysis, much appreciated! :)
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