As I have mentioned "My long term outlook for this pair is bearish. The short to mid term trend for this pair is bullish. The pair is currently testing the short to mid term uptrend resistance line (in blue)."
After the last two days of trading, the price still could not break the short to mid term uptrend resistance line. An aggressive trade setup will be looking to buy the pair if the price is able to break the 21-day SMA with confirmation from the MACD or any other indicators of a buy.
A more conservative trade setup will be to enter a long trade only if there is a candlestick pattern that indicates a proper reversal. You might like to visit
here to check out the various candlestick reversal patterns.
Happy trading....
P.S> We are still in the EURUSD trade. Currently in profit of 205 PIPS. Check out
here for my trade P/L.
