Extended sideways mode looks for direction signals
The Euro trades in a narrow range in European session on Monday, extending larger directionless mode into second week.
Slight negative bias is expected while the price action stays below bearishly-aligned daily MA’s, but other studies are neutral, keeping the downside limited.
Initial direction signals could be expected below range floor (1.0766) at the downside while upper pivots lay at 1.0819 (10DMA) and 1.0841 (20DMA) and break higher would shift near-term focus higher, but lift above range top (1.0896) is needed to revive bulls.
Res: 1.0819; 1.0841; 1.0860; 1.0896
Sup: 1.0788; 1.0766; 1.0740; 1.0727