Another downfall on EURUSD | Where to now?
Updated
Yesterday we looked for an upside move here on EURUSD and there was one to 1,1895.
That upside move was not quite easy for price and today we see a downfall.
The main question now - Where to?
Obviously there is not enough strength in this move to continue higher and so we shouldn’t be buying.
However, there’s no basis for short positions either.
This is a time where we shouldn’t be looking for trades on this timeframe.
A breakout in either direction will give us a clear idea in what direction market will be going next.
Anything before that is basically a prediction without any basis.
That’s why move on to another instrument or go for a walk!
That upside move was not quite easy for price and today we see a downfall.
The main question now - Where to?
Obviously there is not enough strength in this move to continue higher and so we shouldn’t be buying.
However, there’s no basis for short positions either.
This is a time where we shouldn’t be looking for trades on this timeframe.
A breakout in either direction will give us a clear idea in what direction market will be going next.
Anything before that is basically a prediction without any basis.
That’s why move on to another instrument or go for a walk!
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