EOM CONSOLIDATION - SHOULD BE A SONG!

30 août 2018

EUR/USD didn't quite make the Low of 1.1625 I thought was a good launch pad yesterday, but launch it did, off 1.1650. Today so far, price has tested and bounced off both MP & DP and you could be forgiven for thinking the boat has sailed.....maybe it has. I'd rather be thinking there'll be Resistance around 1.1745, soon after a higher high is achieved but it might just be sooner than that and the higher high might not be achieved - YET! I'm still seeing 1.1625 and believe that level will see action today. Therefore I'll be looking for a false break of my M30 Resistance Trendline (Plan A) - or a double top to form at 1.1731 and a lower high to get me in the game. So, my Bullish bias is on hold for the day, as I look for EUR/USD to go into range. Have a great weekend.