101.40 area seems to be some sort of magical line in the sand for that pair and it is very difficult to say is this situation bullish or bearish (short-term).
If we should go higher from here, I suspect we will see some sort of spike lower to take out weak the longs and then reverse strongly.
If we should go lower from here, then price will probably just sink through that area fueled by all the stops there and targeting 100.50 or even 100.00 level.
For me this situation looks very fishy and I'm gonna stay away until one side gains momentum.
If we should go higher from here, I suspect we will see some sort of spike lower to take out weak the longs and then reverse strongly.
If we should go lower from here, then price will probably just sink through that area fueled by all the stops there and targeting 100.50 or even 100.00 level.
For me this situation looks very fishy and I'm gonna stay away until one side gains momentum.