Its been difficult to trade the EURUSD in these past weeks, mainly because it has been trading in a medium term range without clear support and resistance level, this is how my daily charts looks like:
If we see a breakout of the ST resistance level (1.4433), the EURUSD is likely to continue its way up until it reaches the next LT resistance level (1.4822). But again, we need this breakout in order to consider the EURUSD in a bullish condition:
To recap, if it breaks the resistance level (green upper line around 1.4433), I’ll start looking for long opportunities. All take profit orders should be set below 1.4822
Tags: EURUSD Analysis
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 .