In the last two weeks the Euro/dollar has been trading in range in between 1.2763 and 1.3073 a 310 pips range (blue lines) ‘boring don’t you think?’ Right now the market is trading just above the bottom of the range, which means the market could be reaching the top of the range in next hours/days.
So, here is the strategy for the EURUSD:
The trading scenario I favor: if the market keeps trading in between the mentioned range, I will try to look for long opportunities around 1.2763 (where it is right now), placing all take profit levels below the top of the range.
If the market breaks the bottom of the range, will look for short opportunities
If the market breaks the top of the range (1.3073), will look for long opportunities.
Good luck in your week!