Euro Dollar

Chart courtesy of DT5. Data provided by Reuters Quote Center.

As you can see the Euro has moved up nicely this morning and broken above the 13050 resistance. If you have any short orders to open below 12900 then they should be cancelled for the moment. However, right now the Euro looks like it is getting ready to produce a chart pattern reversal. Look for a candlestick and PP to confirm that for a day trade. Swing trade perspective is a bit hazy on this pair due to the range bound continuation so best to look for volatility breakouts above the high and lows on the larger time frame.

The USDCAD pair at present is still a good contender for a wave 5.

Good luck today.