EURUSD: Important Decision Ahead

FX:EURUSD   Euro / U.S. Dollar

hey traders,

EURUSD is currently trading within a very peculiar zone:
its upper boundary is based on the major rising trend line that the price broke in September and that currently serves as the resistance.
its lower boundary is based on the major falling trend line that the price has violated yesterday and that currently serves as the support.

for now, I see two equally possible scenarios:
either we close above the upper boundary of the zone and continue growing to 1.1935 level
or we drop below its lower boundary and initiate a short rally at least to 1.1705

for now it is hard to say exactly, which side the pair will select.
so I prefer to wait.


Are you bullish or bearish on EURUSD?
+1 Reply
mrs_E VasilyPonomarev
@VasilyPonomarev, closed my 2/3 position on EURUSD regret at all entry was low. Still on with GBPUSD. Let's see
@mrs_E, thank you for comment my friend!
lmulhare VasilyPonomarev
@VasilyPonomarev, I'm slightly bullish until the current trend exhausts itself. Thanks Vasily :)
@lmulhare, you are welcome buddy)))
thanks for sharing! this is what I see on EURUSD :
Nice thinking. I Think it is a very good example for Wolfe Wave ( a little flat though ), and therefore I would say, the direction is still down.
@WiseForX, good analysis!
+1 Reply
WiseForX VasilyPonomarev
@VasilyPonomarev, Thanks Vasily
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