Time for breakout move for EURUSD
EURUSD for past 4 days have failed to break below 1.1750 and also failed to move up. There have been series of bad news coming from Europe, resurgence of Covid, flooding, yesterday's dovish ECB minutes (as always) and euro still hasn't moved lower. I start to get a feeling that this might be a bottom for some time. If today's manufacturing and services data isn't able to move Eur down, then there is good chance of going up. I have opened a long position with tight stop at 1.1740. If data is going to be solid I will be adding to existing positions and look towards 1.1820-1.1830 with possible jump to 1.1850. Since it's Friday and flows can be of factor, I will be careful to go short if 1.1750 makes way
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