I’m not trading the EURUSD until this happens

It’s been a month now and the EURUSD is still ranging, with no clear support and resistance level.

It’s been difficult to trade, but I have a plan now, and I feel comfortable about it.

Here is the chart:

You see the range? Not a very well defined range, is it? If we have no clear S&R levels there is no way we can determine when the market will change direction. Therefore it’s impossible to find good entries.

And because of that, here is my plan:

  • I’ll start looking for long opportunities once it breaks the supper extreme of the range: 1.2428
  • I’ll start looking for short opportunities once it breaks the lower extreme of the range: 1.2050
  • I will do nothing if it keeps trading in between these two levels.

What do you think?

EURUSD Analysis, forex

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 .