We seem to be locked in a choppy market ranging from 1.15 - 1.13. The bias is little bit bullish. Here I would recommend to long in the gray area as shown in this picture. Market has respected this area many times in the past and it is a solid bounce area for both longs and shorts. Simply wait for bullish signals in this zone or place you orders there in advance to secure the best price. If we manage to get solid price action below 1.14 consider switching to short.
When we zoom out we can see that the market has printed 3 failed bullish attempts and managed to get a solid bullish cross on 19. November. Unfortunately this cross did not start a bull run, but a period of consolidation. The last cross from December has shows quite a bit of momentum, so hopefully for bulls we can clear 1.15 and carry on.
When we zoom out we can see that the market has printed 3 failed bullish attempts and managed to get a solid bullish cross on 19. November. Unfortunately this cross did not start a bull run, but a period of consolidation. The last cross from December has shows quite a bit of momentum, so hopefully for bulls we can clear 1.15 and carry on.
Comment:
As described above EUR was finally able to clear 1.148 resistance. If you followed my call I would recommend to take partial profit here and placing SL either at entry for a risk free trade or below previous resistance (1.145 - 1.147) to lock in more profits.
Comment:
Here you can see ideal entries since my call and the reason why I am saying to TP here. I will update this again if we hit some nice entry points. Happy trading and enjoy the profit!
Here you can see ideal entries since my call and the reason why I am saying to TP here. I will update this again if we hit some nice entry points. Happy trading and enjoy the profit!