Today Draghi's speech and U.S housing data may have an influence on the pair.
The picture is clear as shown in the 4 Hours Chart. If you can not trade a million contract to have an effect on the pair the best strategy will be:
Sell from resistance zone and buy from support zone. Or wait for the break out of the support or resistance to enter the trade.
The breakout of the support 1.17400 will lead the price 1.17100, 1.16900 and 1.16500.
The break out of the resistance 1.18500 will lead the price 1.18800 and 1.19100 and 1.19500.
All indicators in all chart timeframes are bullish. There are no negative divergences. On the monthly chart, the price is just testing the EMA 50 resistance.
The intraday and midterm strategies are clear as mentioned above. Selling zone 1.18400-1.18600, buying zone 1.17500-1.17600. Stop loss levels for selling 1.18900 and for buying 1.17200.
The picture is clear as shown in the 4 Hours Chart. If you can not trade a million contract to have an effect on the pair the best strategy will be:
Sell from resistance zone and buy from support zone. Or wait for the break out of the support or resistance to enter the trade.
The breakout of the support 1.17400 will lead the price 1.17100, 1.16900 and 1.16500.
The break out of the resistance 1.18500 will lead the price 1.18800 and 1.19100 and 1.19500.
All indicators in all chart timeframes are bullish. There are no negative divergences. On the monthly chart, the price is just testing the EMA 50 resistance.
The intraday and midterm strategies are clear as mentioned above. Selling zone 1.18400-1.18600, buying zone 1.17500-1.17600. Stop loss levels for selling 1.18900 and for buying 1.17200.