The EURUSD entered the US session by making new lows for the trading day. In doing so, the price got near the low corrective price from last weeks post-ECB meeting price action. That level came in at 1.0788. The low just reached 1.0795 and bounced (see 5- minute chart below). I am not totally surprised. The 1.0807-63 area had a number of swing lows going back to May and July (see daily chart below). In addition, there is that low corrective price from Friday's trading at 1.0788 that traders remember. The combination makes for an area for buyers to stick a cautious toe in the water. Shorts from above could take some ... (full story)