EUR-USD, Currently in a Pseudo Pullback and Baiting Mode

The market genie has given the short sellers a few pips as baits to swallow, just like how a fisherman puts bait on his fishing hook for the king fish to take its last bite before landing on its master's dinner table for supper.

The EUR-USD currency pair is currently in a pseudo correction mode. I prefer to call it the pseudo correction mode or the baiting mode instead of a real correction. Hovering around the 1.2345 lines of support and the 1.2372 area of resistance. There is a slight chance the pair could slip back under the 1.2345 lines in order to reel in more king fish, but this is highly unlikely.

If a scalper wants to suffer the fate of the king fish, he/she may take a chance and short the EUR/USD pair at or around the 1.2365 or 1.2366 area of slaughter. There is a good chance of picking up some deadly pips, but are these pips worth the risk? Maybe if a scalper wants to be remembered as the most delicious king fish on the market genie's dinner table, he could jump at the chance of a life time. I wonder who is the market genie?

Please express your opinions below