Traders going long would be rewarded, however, short sellers who caught the dip in the middle of the week would be rewarded as well.
In this week's analysis, we see that the pair has gone up to level 3, where potential reversal usually occurs. While it is still premature to say that a complete reversal shape has been formed, it pays to be prudent and avoid the pair till the next signal comes along.
So for the lack of any price pattern and just the fact that it is currently in level 3, I am going to place a neutral outlook on EURUSD .
For traders who want to trade the EURUSD , it pays to monitor and look for long or short signals.
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