EURUSD Trade Idea
EU is currently in a range bound condition after an extended uptrend move. Yesterday, market rejected 1.2250 resistance impulsively but failed to push further lower, which was a sign of sellers' weakness and buyers strength as they find value at the current price. Will be focusing on short-term long opportunities if price breaks above 1.2250 & 1.2270 for potential break & re-test setup with 1.23 - 1.24 as target. However, if price again rejects the 1.2250 resistance zone, a potential double top setup could be taken back to 1.2170 support zone. Avoid any breakout setups unless both resistance zones are clearly violated.
Trade safe.
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Trade safe.
Do follow my profile for daily fx forecast.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.