There are alot of shorts in all the euro pairs. I see it like this: The EURUSD between 1.1050 and 1.1450 is a war zone. The bulls win if they can jam it above 1.1460 and blow 4 trillion in stop losses. The bears are still on defence. The bears could barely keep the pair below 1.09 last week. Right now they're just trying to cover shorts and some are still selling the highs above 1.1250. The bears had their dicks handed to them last week as bulls blasted the 1.10 and ran it up 380 pips, and all this tom fuckery was during the Peak-Greek-Freak-Out. The situation and levels on the EURUSD are very dynamic and I'm not interested in guessing who wins. The big trades here are at the big stops or on news. I'm a buyer above 1.1460 and will accumulate between 1.09-1.1050 if the mood is and traders still selling into the jaws of the whales.
I we get a lot of trader bulls buying while treading water in the "no mans land" in the no mans thinking they are clever (sentiment flips) I'm not interested in longs and will go short. Only looking to trade imbalances. These take time and can flip day to day. Short opps could emerge quickly if longs get too exited. Keep your eyes peeled and trade like a rat.