Golly this is becoming a long week with the EUR/USD sitting again around 1.2380 as Europe prepares to open. there’s not a heck of a lot on the data front to inspire either, just to rub salt into the wounds.
EUR/USD offers are stacking up in the 1.2400/10 area (1.2410-55 day MA) with the 1.2450 barrier still intact behind, but the going is expected to be heavy again with offers layered up to the level from supranationals and SNB related banks. Buy stops sit just above but further offers lie in wait up to 1.2500 which also holds a barrier.
On the downside 1.2374 (100 hour MA) seems to be adding some support and there are bids down to 1.2350 with a few sell stops just below, but a cluster of further bids also lie down to 1.2325/30(yesterday’s lows) and 1.2300