It turned out that EURUSD started to consolidate and trade in a sideways market.
The price is trading on a strong daily structure and stuck in a narrow horizontal trading range.
Now the future direction of the market will be determined by a breakout:
- In case of a breakout, I will expect a continuation to 1.204 level
- In case of a breakout, the price will most likely drop to 1.189
I am biased and have an active short position.
But if you don't have any active position, it is better to wait right now.
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