Attached is the 1H chart for EURUSD. Yesterday, was a topsy turvy day with price whipsawing on all the pairs and finally the prices of most pairs ending the day where they had started. Nowadays, that has become very typical of Mondays where the big guys just seem to take all the pairs on a big ride to confuse everyone.
Anyway, we are where we are. Yesterday, we had a nice move down to the strong support at 1.3810. Though the downmove was something that was expected, the size of it surprised me as i was expecting a move only till around 1.39. In any case, we had an upmove after that and this move has shown that there is still lot of strength left in this pair. Now, this pair is trying to clear 1.3930 which had served as a decent support yesterday.
On the downside, we can support at 1.3890 and then a very strong support at 1.3810.
On the upside, there is some decent resistance at 1.3930 and then at 1.40. Today, i would expect the price to move up after a small retrace into the high 1.38s.
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