BombayBulls

EUR/USD and GBP/USD - Indecision Prevails - 5/11/2016

FX:EURUSD   Euro / U.S. Dollar
36 0 1
Euro             is not able to make up its mind about the further direction and EUR/USD             is drifting around 1.1380. 1.1420 looks like a good resistance level for quick short grabbing few pips. As long as 1.1360 holds, another test of 1.1500 can't be ruled out.
Strategy is to first short it at 1.1420 and get few pips. Then wait and see how that works. If dips are supported then in next session or two it will be obvious that it wants to go higher.
Above 1.4400, British Pound has bright future for next couple of hundred pips but there is always a dark shadow of Brexit looming over and we have to be careful with any longs. Price action is too messy so leaving GBP/USD             alone for a moment.
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