Good morning all,
The EUR/USD on the hourly chart seems to be trading within a well defined range of 70 pips, ranging from 1.0706 up to 1.0775.
So I see three possible strategy's:
1. Short @ 1.0760 near the resistance, although its a higher risk due to the mid-term trend that is bullish and a break to the upside is most probable.
2. Buy @ 1.0715 near the support, backed up by the the mid-term trend that is bullish.
3. Buy @ 1.0780 on a breakout of the hourly resistance also backed up by the the mid-term trend that is bullish.
The EUR/USD on the hourly chart seems to be trading within a well defined range of 70 pips, ranging from 1.0706 up to 1.0775.
So I see three possible strategy's:
1. Short @ 1.0760 near the resistance, although its a higher risk due to the mid-term trend that is bullish and a break to the upside is most probable.
2. Buy @ 1.0715 near the support, backed up by the the mid-term trend that is bullish.
3. Buy @ 1.0780 on a breakout of the hourly resistance also backed up by the the mid-term trend that is bullish.
2