EURUSD is consolidating in triangle formation and there are 2 possibilities to consider.
Trade A - Price have break trough wedge resistance level and may go further to the upside. If so, then there's also possibility for larger correction.
Entry - 1.2488
SL - 1.2443
TP - 1.2562
Trade B - price will break to the downside which means that trend continues. Moving averages (daily 30/50/100) are showing that price is in dynamic area of S&R. Don´t enter before price have gone below heavy support line.
Entry - 1.2345
SL - 1.2399
TP - 1.2247
FX calender has major market moving events today (16.12.2014) for USD and EUR so be ready to act.
Trade A - Price have break trough wedge resistance level and may go further to the upside. If so, then there's also possibility for larger correction.
Entry - 1.2488
SL - 1.2443
TP - 1.2562
Trade B - price will break to the downside which means that trend continues. Moving averages (daily 30/50/100) are showing that price is in dynamic area of S&R. Don´t enter before price have gone below heavy support line.
Entry - 1.2345
SL - 1.2399
TP - 1.2247
FX calender has major market moving events today (16.12.2014) for USD and EUR so be ready to act.