EURUSD is currently stuck within a wide horizontal trading range.
because the trend is still bullish, we keep being bullish biased and expect a bullish continuation.
however, it is very risky to buy the market from current prices. to catch the next bullish wave I would suggest waiting for a bullish breakout of the resistance of the range on 8h. then we can initiate a long trade on retest. goal will be 1.20
sometimes consolidation is the first reversal sign, for that reason, we should also consider a bearish scenario. to catch a bearish wave, wait for a bearish breakout of the range on 8h. goal will be 1.16
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.