EURUSD Analysis – 1 August 2014

Right now the Euro is stuck between demand at 1.32960 and supply at 1.35160. There really isn’t much to do at the moment as far as opening a new position goes. Overall it still looks like it wants to go lower to the demand at 1.32960.

EURUSD - Daily - 1 August 2014
EURUSD – Daily – 1 August 2014

Looking at the bigger picture, it is still in an uptrend, with the 50% retracement of the larger move coming in at 1.30200.

Patience is the name of the game at the moment, don’t get chopped up in the middle of nowhere.