The EURUSD pair turned neutral technically both on the 4H timeframe (RSI = 51.027, MACD = -0.001, ADX = 32.294) and 1D (RSI = 48.083, MACD = 0.000, ADX = 32.045) and that creates the conditions for sideways trading.
Though the short term pattern may be a Channel Down, we will use the range provided by the Double Top and Double Bottom 1.07900 - 1.0670 to scalp for the rest of the week. This is more or less the 4H Bollinger Bands.
Our buy trigger is a break of R1 (1.0800) and we will TP = 1.09150 and sell trigger the bottom of S1 (1.05740) and TP = 1.0500.
## If you like our free content follow our profile to get more daily ideas. ##
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.