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.