EURO/USD UPDATE

THE 4HR BAR THAT JUST CLOSED A 8:00 AM EST JUST FINISHED TESTING THE BULLISH PIVOT POINT. ON LOWER VOLUME. A GOOD SIGN FOR THE BULLS. ON A BULL PIVOT, WE LIKE TO SEE THE TEST BAR CLOSE DOWN ON LOWER VOLUME.

STILL NO ENTRY SIGNAL. WATCH YOUR 30 MIN AND YOUR 1HR. EVEN WATCH YOU 15 MIN AND LOOK FOR IT TO CONFIRM YOU 30 OR 1HR PIVOT.

THE ENTRY SIGNAL, IF THERE IS ONE, WILL PROBABLY COME AT 9:30 AM EST JUST BEFORE THE U.S. DATA ON EXISTING HOME SALES THAT COMES OUT AT 10:00 AM.

REMEMBER, NO INTERNAL BULL PIVOT TO GO WITH THIS 4HR BULL PIVOT MEANS NO TRADE. YES, THIS CAN SOMETIMES CAUSE YOU TO MISS A MOVE BUT MORE TIMES THAN NOT IT KEEPS YOU OUT OF A FALSE MOVE.

JERRY