Trade Setup

The euro has found strong resistance at 1.4750. There has been selling interest here that has been absorbed by more buying. I expect resistance to break on the next attempt. Look for a place to get long so you can catch a continuation move higher. The initial target areas are 1.4690-1.4650 or on the break of resistance.

The eur/jpy has also been consolidating and forming a base around 161.00 most of the day with a dip down to 160.76. If this holds this is the area to start getting long.

If things change as we get closer to news, I’ll send an update on these setups.