EUR/USD back towards range top
EUR/USD has rallied back towards the top end of its $1.1335-$1.1438 range following on from a strong Friday session. This means we are now looking for bearish reversal signs to continue this recent trend. Shorter intraday timeframes are useful for this type of situation.
Ultimately, it seems a safer bet to expect a move towards the lower end of this range than to predict an upside breakout. As such, a bearish view is held unless we see a closed hourly candle above $1.1450.