EURUSD: Finally out of the range, Longs in Play
Its been a while since the last time I traded the EURUSD, actually, there was one trade (long opportunity) but the market came back into the range. But now its clear, the EURUSD is officially out of the range, helped by the weakness of the US Dollar. Please take a look at the next chart:
What is better is that we still have some room before the market hits the next long term resistance level.
My Trading Plan:
Look for long opportunitiesin the Euro, all take profit orders will be placed below the next long term resistance level around 1.4653
All short signals will be ignored.