EURUSD Daily:
Price is trading within a daily descending channel creating clear lower highs and lower lows. Currently we trade above the 1.13 key level with the descending trend line capping price in a 40 pip consolidation between 1.13000 - 1.13400. We need to be patient with this pair and wait for the breakout in either direction. Technically we are still bearish but it's best for wait for price to show us the next move before jumping into any positions.
Price is trading within a daily descending channel creating clear lower highs and lower lows. Currently we trade above the 1.13 key level with the descending trend line capping price in a 40 pip consolidation between 1.13000 - 1.13400. We need to be patient with this pair and wait for the breakout in either direction. Technically we are still bearish but it's best for wait for price to show us the next move before jumping into any positions.