ITraderAnalysis

EURUSD outllook details

FX:EURUSD   Euro Fx/U.S. Dollar
59 0 1
- On D1chart, price consolidate into a descending triangle pattern
- Price is strongly reject by Monthly Support with Solid Bull candle.
- 2 possible happening scenario:
- break to the upside or
- break to the downside;
All depends on price movement to either break above the descending triangle resistance TL or break below its support.

(PIPs Range : approx 250 pips)
Comment: Almost a month after have this posting... Euro Dollar (EURUSD) is still moving in the range, pretty tricky & caught many amateur traders, i assume, when you are jumping in to buy low, sell high?

However, there's time this buy low, sell high work and to be able to play this range bound method by some experienced traders. I personally have stayed aside & watching only. It's kind of choppy & consolidating. (Ain't my trading style) Eventually not everyday it gives you a good chance to trade, be selective & play out when the trend invites you.

Cheers!
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