So, the eurusd
is making a higher high and higher low sequence in the short-term. Structure wise we expect the market to test the 1.1150 levels before the weekly downtrend could resume. If the market breaks below 1.07775 we wouldn’t be looking for more upside anymore. The reason for that are intermarket relations, structure and correlations reasons. We don’t want to go into details because we want to protect our client’s priority.
Overall, we don’t like this pair either to buy or sell and as of for right now we will be on the side-lines.
Never risk more than 0.5% per trade and never overleverage your account otherwise you will lose your account.
Your Secrets2Trade Team