EURUSD: Trading near a long term level, waiting for breakout

Hope you all had a great and relaxed weekend because I think we could see pretty interesting moves this week.

The EURUSD is trading near a long term support level, 1.4517 and it has created a short term range in between 1.4540 and 1.4488:


We need a further confirmation in order to start looking for a trade opportunity.

My Trading Plan:

If the EURUSD breaks 1.4540 for the upside, I will be looking for long trade opportunities.

If the EURUSD breaks 1.4488 for the downside I’ll be looking for short trade opportunities.

I will do nothing it the Euro keeps trading in between the short term range.

Trade Safe!
Raul Lopez

Tags: , , ,

Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .