Exhausting Sideways Movement in EUR/USD
The EUR/USD has been moving sideways for an extended period, which can be quite exhausting for traders. After making a higher high, the price quickly retraced and last week’s closing price was at the support area.
green scenario
For those considering a buy position, entering at support is a solid strategy, providing a good risk-reward ratio.
NB: However, until the close, there are no signs of a reversal for a buy position.
red scenario
If you're leaning towards a sell position, the current level could serve as your confirmation.
If the price breaks below support, there's an order block above that could act as a level to initiate a sell position.
What do you think?
Will EUR/USD continue its bullish trend, or will it reverse?
Share your thoughts in the comments.
green scenario
For those considering a buy position, entering at support is a solid strategy, providing a good risk-reward ratio.
NB: However, until the close, there are no signs of a reversal for a buy position.
red scenario
If you're leaning towards a sell position, the current level could serve as your confirmation.
If the price breaks below support, there's an order block above that could act as a level to initiate a sell position.
What do you think?
Will EUR/USD continue its bullish trend, or will it reverse?
Share your thoughts in the comments.
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