Use the first day of the month as an opening range from which to play breakouts. That range is 13218-13025. An upside break targets 13400/50 and a downside break 12875.

In summary:

Long on a break above 13218, target 13435 (stop 13110)

Short on a break below 13025, target 12880 (stop 13150)

I initially sold EURUSD at 1.3526. Prices have now completed a bearish Three Inside Down candlestick pattern below resistance at 1.3231, the late-November swing bottom and my revised stop-loss level, hinting the corrective upswing that played out over the past two weeks may be running out of steam. I will continue to hold short, revising my soft target slightly higher to 1.2623, the latest swing low. A daily close above 1.3231 triggers the stop-loss. Initial support lines up in the 1.2927-2966 area.

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SEE CHART HERE

We will hold off for now with a retest of the October record lows seeming likely. However, we still think this market is in the process of attempting to carve out a more complex bottoming pattern ahead of a major bullish trend reversal over the coming months. As such, our strategy will be to look for a break of the record low and some stretched daily studies and then look to establish a fresh counter-trend long.