Here some analysis on the EUR/USD pair:
We are still in a strong and currently a nice correction has been formed lying on a major, historical and daily support. Therefore we might see a bounce from this support (middle black line).
- Consolidation has been formed right on the major support
- (with 2 long wicks) has been formed
- has been formed
- Put a BUY LIMIT order on the breakout of the small consolidation area (which is also the breakout)
-Stop loss 5 pips below the lows of the candles
- Take profit is on the next major resistance line
- Risk reward 2:1
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