EURUSD Price action have been quite choppier from over past few days.
There are possible 2 scenarios that I am looking right now.
Scenario 1: As 4 hour chart shows Bullish MACD convergence so it is possible that market may break up straight away and test 1.1459 area.
Scenario 2: Since momentum on higher time frames is still quite bearish so might be possible that it may test the support area around 1.1215 where I see the scope for a bounce towards 1.1459.
So in first scenario Its good to trade with a Buy Stop order or you can trade with Buy limit order in case 2.
Thank you for your support.
Good Luck with the trade idea.
There are possible 2 scenarios that I am looking right now.
Scenario 1: As 4 hour chart shows Bullish MACD convergence so it is possible that market may break up straight away and test 1.1459 area.
Scenario 2: Since momentum on higher time frames is still quite bearish so might be possible that it may test the support area around 1.1215 where I see the scope for a bounce towards 1.1459.
So in first scenario Its good to trade with a Buy Stop order or you can trade with Buy limit order in case 2.
Thank you for your support.
Good Luck with the trade idea.
