EURUSD consolidated further one the first trading day but has started to turn bearish as it broke below a minor rising trendline.
According to the current structure, the price may soon break below the current range and fall towards the demand zone just above 1.12, supported by a rising trendline.
Traders can choose to do a short-term sell at the demand zone which is formed after the breakout of the minor trendline.
Otherwise, wait for the price to fall further once the price is supported at the demand zone above 1.12, traders can choose to long with a tight stop loss just below 1.12 with a target profit as high as 1.135.
According to the current structure, the price may soon break below the current range and fall towards the demand zone just above 1.12, supported by a rising trendline.
Traders can choose to do a short-term sell at the demand zone which is formed after the breakout of the minor trendline.
Otherwise, wait for the price to fall further once the price is supported at the demand zone above 1.12, traders can choose to long with a tight stop loss just below 1.12 with a target profit as high as 1.135.
