Last Sunday (during the Asian session) the EURUSD broke the top of the range, where it traded for almost two months (and making it almost impossible to find low risk trading opportunities). The thing is, since that Sunday breakout we have not had any significant movement, the Euro entered in a short term range in between 1.4369 and 1.4428. Please take a look at the next chart:
Could be that traders and investors are waiting for the NFP announcement later this week. However, I’m still looking for long opportunities, but if you want to play safer, I would suggest you to wait until the EURUSD breaks the top of the short term range.
My trading plan:
Looking for long opportunities, next long term resistance level is at 1.4654.
All short opportunities will be ignored.