As you will see in an upcoming blog article the “50” level (e.g. 1.1450) can be a powerful sentiment indicator, especially for short-term trading.
This is why the pause at 1.1449 caught my eye as it was not only around a chart resistance, but it was 1 pip shy of 1.1450.
This leaves EURUSD in a 1.1391-1.1449 range where moves inside it should be limited as there are no key stops to go after unless either side is broken,
Currently, 1.1413 needs to hold to keep a bid and current momentum pointed up. Otherwise risk shifts back to 1.1391.
(AT 4 hour chart)
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