Let get started with the Analysis.
EUR/USD could be just as exciting as watching paint dry at the moment. We are in a tight trading range which means the banks will be loading up before pushing this price in their given direction. This market is excellent for intraday traders as the price has not deviated from theover the last five days. Looking at the overall trend (yellow arrow) for the two months you can see we are in a steady downtrend, clearly visualised by the downward stair pattern of the VWAP. For the reversal traders looking to potentially catch the bottom, there should be some value under the 1.11500 price (Green Value Area) ☝🏾
On the other hand, you might be a trend trader looking for a pullback. Catch the price on the pastat 1.12800 (Top White Line) or above (Red Value Area), would provide a good risk to reward with more than enough selling pressure as resistance. My personal opinion is this market is going to need another week to show its true colours, so if you are a swing trader, please hold tight. For the intraday traders have fun grabbing those quick wins on either side of the book 💶
Next update will be this weekend – Thank you for your love and support.
Nathaniel – “THe BiPolar TraDer”
Little Big Movement