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EUR/USD Forex Market Trading Strategies

By Al BrooksForexJul 12, 2021 09:25AM ET
www.investing.com/analysis/eurusd-forex-market-trading-strategies-200591001
EUR/USD Forex Market Trading Strategies
By Al Brooks   |  Jul 12, 2021 09:25AM ET
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EUR/USD has been reversing up from a wedge bottom near the bottom of a year long trading range. It should test the June 25 lower high, but might get one more leg down first. Buyers will probably make an appearances once EUR/USD hits below the July 7 low. If there's a breakout below that low, then the pair should reverse up again and form a bigger wedge bottom.

Today, EUR/USD is reversing down from a small double top with the July 7 high. The small wedge bottom should lead to at least a small second leg sideways to up, so probably we'll only have a 1–2 day pullback.

Traders are deciding whether the rally to the June 25 high has begun, or if there will be a brief selloff to below the July 7 low before the reversal up. The pair might form a small triangle starting with the July 7 high before a decision will be taken.

Nothing is clear in a trading range, so when nothing is clear (clear means high probability), the market is probably in a trading range. And this range began June 18.

EUR/USD Chart
EUR/USD Chart

EUR/USD Forex Market Trading Strategies
 

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EUR/USD Forex Market Trading Strategies

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Delta UFO
DeltaUFO Jul 12, 2021 8:49PM ET
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I should do this . . .BUT it might do that . . . IF this does this . . . BUT it could do that. W<>TF is this kind of B<>S analysis old man.
 
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