First Resistance Zone Holds Based on the Daily Chart of the EURUSD Pair Futures
The market is still caught between a near-term resistance zone and the support zone. The RSI readings did form pivot low above 38, and that sets the market into a trading range. One thing I watch for is if the RSI closes below a trend line plotted along the RSI support points. If it does, then that indicates downside momentum is returning.
The 5-mnute bar chart with the CQG SnapTrader shows the market formed a low with lower volume following the break. This led to the market moving into a trading range. Watch for a retest of the low and whether the volume expands or not to indicate if sellers can regain control.
The morning look at the TradeFlow Chart for the EURUSD has the both studies set to a five-bar running sum with the CQG SnapTrader. It has been a two-way market as the two volume lines of the TFVCrss study track each other.