EUR/USD BUY - 11/10/2017
The Euro continued its upward movement and now the price is near the upper limit of the consolidation. It is worth noting that the growth was fairly confident and supported by pretty large volume, which is a strong bullish sign. Unfortunately, volume was spread throughout the movement, which makes it impossible to single out a specific new volume level. Thus, the most likely scenario is a breakdown of the upper boundary of the local consolidation, which will be an excellent signal for entry, and further price growth. The breakdown movement must be sharp and on large volume, this is a must condition in order to avoid false breakdown, which will make the entrance more accurate and reliable. A stop loss should be placed below a volume breakdown bar or the beginning of a rapid price growth. The potential of the deal is about 110 points.
The bottom line: long positions are in priority.
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