There's not much movement going on with the EURUSD right now, but, if anything, we are looking to go short. Once again it reverses from the support turned resistance zone and also somewhat of a movement along the trend line.
If you're looking to go short, your stop should be just above the zone at 1.254978 or higher if you plan on giving it some more leeway. Looking at the moving average in the background, the convergence is not a good sign. The dash line is our leading 65 simple moving average. It is however better to short now than wait until the actual cross over just to minimize the gap between your stop distance. The bearish bar covered the past two bullish bars. Although this was followed by a couple of much smaller bars signaling lack of trading, it does not look like sellers have covered only suggesting possible further selling. Keep in mind that there is what looks like a price support at 1.2370 price level.
