I want to share with you my analysis on euro dollar pair.
I think for everyone it is clear that from November the pair in a side move. Though the trading range is quite wide from 1.15 - 1.12, nice profits have been made on structure trading.
On 24th and 25th of January we see a nice bullish impulse leg. After a retracement 1.141 the market has established a new high so technically locally the market is an uptrend.
What happens now, the market tests the previous higher low. If we see a bearish breakout of this level, bullish trend will be violated , and we will be looking for entries to sell the market.
The opposite side of the coin: bullish violation of a local falling channel. If we see a decent bullish breakout of this channel, we might expect the retest of the market local high!