EURUSD

Price has stalled at the 160day FLD (gold line), which is also the regression channel perimeter of the move up from 1.3476 and above the 20,50 & 100day SMAs. Although the longer term momentum studies have only just got going to the downside, I have both the 1hr & 2hr studies oversold with price action stalled at this bus stop. I have taken the opportunity to bank all the shorts taken out above this point and covered the rest, whilst I wait for these two shorter term studies to reset themselves in a retracement or otherwise. Whether I have been too cautious or not is not an issue with Claims out this afternoon. Flat and content for now and hoping for another stab downhill from a higher vantage point or similar, but with any uphill momentum worked through by the market. With price under the daily pivot and the 1/5/10day trend bands all facing downhill, and with longer term momentum studies up to the daily, all teetering in overbought, there is no option for me to buy this. Catch up later.