I’ve been bearish on the Euro for a while now. I’ve been looking for areas to sell. However what has been consistently happening is that we spike up and then sell back down. The thing that makes this a little tricky is that the ranges have been quite large. So we aren’t just nudging through these resistance levels, we’re smashing through them.

Let’s look at yesterday. We took out 1.1850, then 1.1900. The only positive is that the round numbers are really holding up well.

So for the time being, I’m waiting on a new trend to develop. We can still look a the key support and resistance levels, but I don’t think we can say that there is a clear trend at the moment. At least not on a medium-term timeframe.

Key support and resistance levels