Market Assessment - EURUSD

Assessing the EURUSD, there are no reports of HIGH importance today and no public holidays in USA and UK. Looking at the EURUSD 5min time frame chart, the Market is currently trending sideways (between the White lines). Using the Pivot Point Strategy, the Pivot Point (Yellow line) and S1 (Green line) are both within the sideways trend and cannot be used as points of Entry into the Market. R1 (Red line) is outside the sideways trend and I have placed a pending BUY order just above R1, see chart above.