From technical point of view the current position of the eur-dollar is at the crossroads of further corrections down to the weekly middle bands of the Bollinger indicator or further continuation upwards as per monthly time frame indicator. You don't really want to get caught on both side and if any trades are initiated should be taken care with full attentions. This is because both ways are possible and this is the territory where the market maker will play elusive games against the small traders at the small time frames and of course automated robot trading burn your account at this point.
The market maker is not hesitate to pull the trigger because of both directions are possible and they are playing to harvest money from all the stop losses set by novice traders. If you play up they will play down and vice versa and eventually you got confuse where will the market go. Without a clear signal and conflicting technical indicators you also will be lost in decisions.
Therefore it is best to wait until MACD and Stochastic shows a clear direction in synced than it would be easier to decide and you will have confident in your trades.
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