I don’t like to trade any market when I don’t see it trading in between consistent support and resistance levels (like the EURUSD is trading right now):
So what I do is ask myself the next question: What the EURUSD (in this case) has to do, so that I’d feel more comfortable trading it? The answer will be my trading plan.
In this case, I would definitely like to see the EURUSD trading either above the LT resistance level to look for long opportunities, or below the LT support level to look for short trade opportunities. If it keeps trading in between the two levels, I will just focus on other currency pairs.
Have a good weekend!