EURUSD Trading Plan: SELL the Rallies at the CHANNEL TOP
EURUSD is consistently trading in a very narrow range which highlights the fact that there could be a REVERSAL very soon.
That being said, it's quite evident that the cross is trading in a BEARISH CHANNEL(Blue channel in my chart).
Hence, it would be a good idea to SELL the rallies when price reaches the TOP of the channel.
There are plenty of resistances, at 1.1265, 1.1298 and finally at 1.1325. The 100D EMA can also CAP the UPSIDE.
So, traders can look for SELL entries between 1.1298-1.1330 with SL above 1.1370.
TPs can be set at 1.1200 and 1.1080 respectively.
That being said, it's quite evident that the cross is trading in a BEARISH CHANNEL(Blue channel in my chart).
Hence, it would be a good idea to SELL the rallies when price reaches the TOP of the channel.
There are plenty of resistances, at 1.1265, 1.1298 and finally at 1.1325. The 100D EMA can also CAP the UPSIDE.
So, traders can look for SELL entries between 1.1298-1.1330 with SL above 1.1370.
TPs can be set at 1.1200 and 1.1080 respectively.
