what to expect from euro dollar?

hey traders,

I am back from holidays and back to work.
I want to start this morning with the euro dollar pair.
Always, after big holidays I prefer not to start trading immediately.
I open charts and just watch the global market sentiment.

Starting from the euro dollar pair on a daily chart we see a clear market contraction
between the market low 1.121 and a decent resistance level 1.15.

Though on a daily timeframe the market is a clear bearish trend,
the formation of a local ascending triangle leaves us clues that the future direction of the market is not determined yet.
For the following weeks it is more likely that we will see more contraction inside this triangle.
Clear violation of its borders will determine the market direction for next months.

For those looking for trades on this pair, you can simply follow the market inside this triangle
buying support line and selling the resistance with fixed stops!

good luck and don't hesitate to ask questions!

Want more education and signals? Contact me in pm!

코멘트:

It is important to mention that bullish violation of a resistance line doesn't mean the violation of a berish trend. market should violate 1.18. Only then It will be considered as a trend violation!

코멘트:

clear structure violation