The Euro US Dollar.

Good morning Dynamic Traders,

Todays chart is of the EUR on the daily timeframe.

It is currently very undecided at the moment, and as it stands is showing signs of a possible 123 top, from its move up starting early March, but as can be seen price has been consolidating from early June after the big move.

Although it is not the ideal 123 set-up, AdvancedGet is showing a possible wave 5 in progress with price action having touched the MOB, which is now causing a squeeze with the trendline.

There are conflicting confluences here and so I am not looking to be aggressive in my stance, but shall wait for a clearer picture of a break either way and make my decision then, as the longer and shorter term trends are up and possible strength may be coming into this pair.

As always please ensure to do your own analysis regarding any trading decision you make.

Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.