Attached is the 1H chart for EURUSD. As can be seen, the week has started quite badly for this pair. It has gone down to its support level at 1.3950 and now has just about started to pick up. The main point to note here is that this pair is still within its range in which it has been for the past 3-4 weeks. I do not see this range being broken anytime soon. Unless something drastic happens, i dont see this range being broken. If and when it does, it is going to be a very big move.
There is not much news during the day but the US markets would be back after the long weekend and this could make the markets interesting today. I dont expect the range to be broken today as well.
On the downside, this pair has strong support at 1.3950 and then a huge support at 1.3920 and i do not expect this support to be broken today. On the upside, the resistance is at 1.40 and then at 1.4050 and a strong one at 1.41.
I expect this pair to range between these supports and resistances today.
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