That is a good place to hang out
The EURUSD opened lower. It rallied through the 100 and 200 hour MAs and the 100 day MA. The pair peaked just above the 50% retracement just before the London 4 pm fixing and started to come back down.
While the price was rising, US yields were higher. Stocks were off and away. Last week the Fed said they expect 3 hikes, and the ECB none. All that should be dollar supportive, yet the dollar was getting hit.
It seemed to be holiday trading and today, may likely be the theme for the week, where the price can run, stop, reverse, run again and stop.
Anyway, we are back to a neutral area where the 100 and 200 hour MA are near converged (at 1.1778-80). The market is stalled a bit. It is a good place to hang out - not too bullish and not too bearish.
I cannot say which way we go from here, but if you get lucky and catch a break, you might be able to ride the next run up (or run down).