The EURUSD is trading around an important long term level (1.3831) but as you all know, we need to consider long term level as zones, and these zones can be determined using the short term charts. This is the zone for the EURUSD:
- If it breaks the upper resistance level (green line) I’ll start looking for long opportunities.
- If it breaks the lower support level (green line) I’ll start looking for short opportunities.
On either scenario, I need to wait for the market to make its first movement, then I follow.