EURUSD is currently stuck within a wide horizontal trading range.
because the trend is still bullish, we keep being bullish biased and expect a bullish continuation.
however, it is very risky to buy the market from current prices. to catch the next bullish wave I would suggest waiting for a bullish breakout of the resistance of the range on 8h. then we can initiate a long trade on retest. goal will be 1.20
sometimes consolidation is the first reversal sign, for that reason, we should also consider a bearish scenario. to catch a bearish wave, wait for a bearish breakout of the range on 8h. goal will be 1.16
The indecision at all time frames today is painful to watch. I hope it will retrace towards 1.16-1.15, then rise smoothly to 1.20 & beyond, as opposed to going for a blow-off top. Thanks Vasily :)