EURUSD - ANALYSIS
EURUSD is also within a choppy range and needs a real breakout. EURUSD is a mirror of DXY and is stable and respects price action well. The red dash line is a huge trendline which looks to have had a textbook bounce from. Would this bounce had been at one of the lower trading lines then I would have entered a long but doing so now I would need a large stop loss.
DXY has control over EURUSD and right now I will not be entering a trade until we see some real direction rather just than the constant range.
EURUSD is also within a choppy range and needs a real breakout. EURUSD is a mirror of DXY and is stable and respects price action well. The red dash line is a huge trendline which looks to have had a textbook bounce from. Would this bounce had been at one of the lower trading lines then I would have entered a long but doing so now I would need a large stop loss.
DXY has control over EURUSD and right now I will not be entering a trade until we see some real direction rather just than the constant range.