Good morning! Today's trading is shaping up gradually... very gradually I might add! I usually prefer taking trades when I see some sizeable amount of momentum (and commitment to a definite direction) early on in the London session. Right now, it looks like the Eur/Usd is in a sideways movement... actually kind of like a triangle so we're hoping for a fairly reasonable breakout move.
The chart above shows the closest Support and Resistance levels. We'll probably commit to a trade either way but I'm more inclined to go Short. If the market breaches the resistance at 1.4534 first, I will also consider going Long (but in a very cautious manner).
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