FX.co ★ EUR/USD

Hello everyone and profitable trading to all! The EUR/USD pair is currently trading at 1.1540, and the resistance level from the four-hour Envelopes channel is at 1.1641, which is just 1 pip above the current price. This makes the situation quite borderline. A move back above 1.1541, and lately Europe has been buying EUR/USD as it comes into the market. So a breakout above 1.1541 will once again make the target at 1.1630 relevant, but not for buying — rather for waiting for EUR/USD to get closer to 1.1630 in order to open short positions. But if they manage to keep the price below 1.1541, then a move below 1.1514 will only be a matter of time, and that will already be a turn to the south according to my indicators. So I think by the end of today’s trading session the situation will be much clearer than it is now.