EUR/USD has been range-bound for over half a year. You can see the support and resistance in red. For those of you who like trading ranges, this is an opportunity.
I believe that after it exceeded its lower support, euro could break out of the range. On top of that, it generated an over-extended double bottom (currently retesting neckline, 0.5 fibonacci).
I will be looking into longing if I see a nice reaction from the area in green.
If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair.
Consider supporting me if you think I am providing you with value.
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.