It looks like the EURUSD might have lost its momentum. It has consolidated and has not broken the resistance line in the past week. My sense is that it might break to the downside in the coming few days. If it does, I will wait for it to retrace to the minor S/R line and look for a clear signal to short it.
Nothing is for sure, so I will look for the market to tell me it's intention rather than guess. But my bias is cautiously toward the downside. Good luck and clear trading to all of you!
Nothing is for sure, so I will look for the market to tell me it's intention rather than guess. But my bias is cautiously toward the downside. Good luck and clear trading to all of you!
Comment:
The EURUSD has indeed broken down, I will now wait for it to retrace to the minor S/R line and initiate a short position there.
