Hi Traders!
The market is moving in a range.
The resistance of the range is at 109.700 and the support at 109.200.
Since the 19th of December the market is making higher highs and it is respecting the trendline.
Then it turned back at the resistance.
Now it is stucked around the trendline area and it is making a consolidation with low volatility.
That mean that the market is preparing for a breakout.
It is possible that the market break out downwards.
We recommend to sell the Trendline-Break with a risk-to-reward of 1 to 2.
Thanks and good luck :)!
The market is moving in a range.
The resistance of the range is at 109.700 and the support at 109.200.
Since the 19th of December the market is making higher highs and it is respecting the trendline.
Then it turned back at the resistance.
Now it is stucked around the trendline area and it is making a consolidation with low volatility.
That mean that the market is preparing for a breakout.
It is possible that the market break out downwards.
We recommend to sell the Trendline-Break with a risk-to-reward of 1 to 2.
Thanks and good luck :)!