EURUSD - Breaching the critical zone
The pair has been having the price consolidation within the range between 1.00300 to 0.99000 and now has come to a critical area.
My analysis is that the pair will be kept in the consolidation range for a bit longer, but it is better for traders to put short orders rather than long orders as the pair is still in a bearish trend.
As though I would not suggest shorting at the current price at around 0.99090, but if the pair breaks out the critical zone, it is short for sure. Otherwise, I would hold the same opinion as last time, just wait for it to go up and put short orders.
My analysis is that the pair will be kept in the consolidation range for a bit longer, but it is better for traders to put short orders rather than long orders as the pair is still in a bearish trend.
As though I would not suggest shorting at the current price at around 0.99090, but if the pair breaks out the critical zone, it is short for sure. Otherwise, I would hold the same opinion as last time, just wait for it to go up and put short orders.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.