EURUSD Walking on The Edge

On Thursday the EURUSD traded in a modest 66 pip range.   ECB rate decision and press conference that followed failed to spark the interest of traders.  The ECB left rates unchanged and Draghi made no mention of Germany in the presser that followed.  The EURUSD did manage to make a lower low but finished the day above the .382 fib at 1.2734. 

Heading into the end of the week and next week, it still remains to be seen if the pair can find any traction at the .382 fib at 1.2734.  To make a run from these levels risk trends will need to pop higher.  A hold of the 1.2750/35 level first obstacle would be the 200 day MVA just above at 1.2820. A break of that level would expose daily price support at 1.2885.  If the pair breaks below the .382 fib a push lower towards the 50 fib at 1.2602 could play out into the new week.

Sup      1.2750/35                  1.2602(5o Fib)

Res       1.2820                        1.2885

Keane Plan....Right now it is all about a hold or break of the 1.2750/35 Support zone...Playing the Price action from there.

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