dlifestyletrader

EURUSD: Trade Accordingly to Structure

FX:EURUSD   Euro / U.S. Dollar
EURUSD consolidated further one the first trading day but has started to turn bearish as it broke below a minor rising trendline .
According to the current structure, the price may soon break below the current range and fall towards the demand zone just above 1.12, supported by a rising trendline .
Traders can choose to do a short-term sell at the demand zone which is formed after the breakout of the minor trendline .
Otherwise, wait for the price to fall further once the price is supported at the demand zone above 1.12, traders can choose to long with a tight stop loss just below 1.12 with a target profit as high as 1.135.
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