Thursday, June 30, 2022

EUR/USD trading between the ranges, let’s wait for the Breakout ?
1 mins well spent

EUR/USD Analysis : 

EUR/USD is moving in an uptrend without much retracement.

After the Breakout of the price level 1.1000, the market still doesn’t Re-test the Previous Breakout level.

Higher highs broken in eurusd daily chart

Now the market is trading between the ranges in H1 Chart by forming Higher highs and Higher lows.

Let’s wait for the confirmation of Breakout from this range to catch Good profits on EUR/USD.

Why Re-testing the Breakout Level is more important?

If market re-test the previous Breakout level and starts to bounce back, then we can expect big and sharp movements from that Breakout level.

Example of Re-testing the Breakout Level : 

GBP/NZD breakout the bottom level of uptrend, then it Re-test the Previous Breakout level once again and then starts to move down more.

gbpnzd fails to breakout the resitance for four times

This shows that Re-testing the Previous Breakout level is more important for catching big movements with low risk in the market.

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