Lets start our day with the analysis on EURUSD. As expected, EU found some huge support at around 1.29 and after few days of consolidation, we finally had an upmove and EU broke through 1.30 and went up near 1.3050. As it usually happens in the Asian session, a large part of the gains have been reversed now and we are back below 1.3. EU does not have any major direction at this point of time and is loitering around 1.3 now.
This consolidation should continue for some more time with 1.2970 as the low and then if and when we see the next upmove, there would be good resistance at 1.3030 and then at 1.3060. Of course , the supports would continue to be at 1.2970 and then a strong one at 1.29. I would like to go long at one of these supports for today.
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