Euro / U.S. DollarShort
EUR/USD is consolidating between 1.0800 and 1.1000
EUR/USD is consolidating between 1.0800 and 1.1000
Bulls are waiting for a break above the 1.1000 psychological resistance to confirm their control over the performance.
The pair will remain in a narrow range until the European approval of the German-French initiative to stimulate the European economy in the face of the effects of the Corona virus.
Despite the recent optimism, which pushed the pair higher but the general trend on the long term is still bearish.
Two scenarios:
Look for short positions at the first signs of bearish momentum offers good opportunity if you believe that the euro will fall back down to its 1.0800 range support which is the scenario i personally prefer but i will wait for a confirmation.
Look for long positions at the first signs of upside breakout above 1.1000 and then aim for previous highs near 1.1140.
Use lower time frames 15min; 30min and 1 hour to determine the take profit and stop loss.
Bulls are waiting for a break above the 1.1000 psychological resistance to confirm their control over the performance.
The pair will remain in a narrow range until the European approval of the German-French initiative to stimulate the European economy in the face of the effects of the Corona virus.
Despite the recent optimism, which pushed the pair higher but the general trend on the long term is still bearish.
Two scenarios:
Look for short positions at the first signs of bearish momentum offers good opportunity if you believe that the euro will fall back down to its 1.0800 range support which is the scenario i personally prefer but i will wait for a confirmation.
Look for long positions at the first signs of upside breakout above 1.1000 and then aim for previous highs near 1.1140.
Use lower time frames 15min; 30min and 1 hour to determine the take profit and stop loss.
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