Attached is the 4H chart for EURUSD. Just a glance at the chart tells you that this pair has been ranging for the past couple of days. What is scary though is the fact that the range has been so tight. This tells you that a breakout is around the corner and if and when the breakout comes, it is going to be fast, quick and nasty.
This is a period of consolidation and the best thing to do during this consolidation is to have patience and wait for the price to reach a support or a resistance and then trade accordingly. For eg., all that you need to do is wait for the price to reach around 1.4387 and then take a long and you can exit at around 1.4420. Take a short there again and exit around 1.4390. Keep playing this range and you could have very easily made 80-100 pips on each of these 2 days. But the key here is the wait cos you can easily get impatient and take the wrong entry at the wrong price and this market would then kill you and if it happens twice, next time, you are simply too scared to take the trade even though it might be the right trade at the right price. This is what the market can do to your brain.
Anyway, today would be crucial with a lot of news coming in and i would expect this range to be broken either today or atleast by tomorrow. As i have been saying over the past couple of days, on the upside, the resistance is at 1.4440 and break of this will lead to 1.45 and then 1.46. On the downside, there is support at 1.4380, 1.4350 and then 1.43. Play the range for now and wait for a breakout to take a lot of pips..
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