On Wednesday EURUSD was traded within the small range of 55 pips. The Euro opened from 1.2574 and devaluated to 1.2518 yesterday, not corresponding with the positive MFS at around 15%, closing the day at 1.2528. This morning the Euro volatility was low, above the bottom of yesterday’s range.
The upward movement stopped and a wide range has appeared on the 3 hour chart. Any break above 1.2574 would be a sign for uptrend for the EURUSD. However, going below 1.2518 would be a trigger for downward movement with target of 1.2400.