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Euro is leading the major pairs on a move against the Usd that gets them back into the 4 hour chart ranges, that were recently tested as support against the Usd. This is the initial U.S. based break that we are monitoring the pull-back of; if it holds support on a pull-back we will signal.
As far as we can see Euro has broken pivot point Resistance 1 just twice in 16 sessions and managed to hold into the next session, and as such we really need to see how well backed this move becomes.
The major pair four hour charts are all overbought on the dollar momentum reads, and that is a red flag. As such we need to see the reaction to the reversal of this move. We are also aware that the Chicago reversal of European trade comes at this time, and as such we do not want to be left holding a trade that runs out of momentum.
Global equity and commodity markets are not backing the move, and order flows are sporadic, at best.