EUR/USD, in beteween the SR levels and trend lines!
In my yesterday’s EUR/USD analysis I have pointed at the possbile breakout up from the ascending triangle. Sure, I also pointed out the importance of breakthrough the 1.1180/90 resistance at first, but the sellers have decided for break down true the trend line, after witch my predicted support level at 1.1120/30 hold the fall. Well, here we are today at the same support in some kind od the consolidation range in between the same levels with not much of momentum, but it looks bearish in this moment. If this support breaks, next one on the way down is 1.1060/80. In this smaller TF H1 I just want to show how important is to follow the pair in all TF’s while you trading and makind you’re decisions for entry. FOMC minutes are coming at the end of the day at 19:00 h (GMT). Could we see some action before or the pair will continue to move in between the SR levels, we will see.
Dear traders, as are positioned? I am buy from 1.1075, with profit to 1.13, what do you think? Good trading to all! 😉
US CPI data will be very important for the US dollar today.