EURUSD - Trading Sideways

28 thg 9, 2015

The EURUSD started trading sideways. A Symmetrical Triangle can also be drawn on H1 and H4 charts of this currency pair. Considering this, would be pretty hard to determine what is the next move. I would wait for a break outside the range between 1.1214 - 1.1114. A break above the resistance would signal a rally for which I have as a target the area around 1.1300. A break below 1.1114 would signal a drop towards 1.1000. I tend to believe in a down break towards 1.1000 in the next couple of days.
For intraday trading lowering the time frame might help.