EUR/USD: Two Breakout Points Outside The Equidistant Channel

The EUR/USD has perfectly rejected from both POCs after the setup and analysis shown on Weekly Recap and at this time it is very clear that the equidistant channel is trapping the price keeping the range bound market still in play. After a fake-out that happened yesterday 1.1720-1.1690 (which was still good to trade as a breakout trade, and what I showed during the Live Trading webinar) we can see two POC zones within the equidistant channel that might push or tank the price. If the price spikes above 1.1778 (EMA89, D H3, channel high) the target is 1.1798 and 1.1825. Above 1.1832 we should see a continuation towards 1.1875 and 1.1910. Below 1.1668 (D L5, ATR projection low, channel low), the price could drop to 1.1584.

EURUSD

 

EURUSD Current Trading Positions

Sell 50%
Buy 50%
100.0%50.0%045505560657075808590951001050
Avg Sell Price 1.1759
Avg Buy Price 1.1700
Liquidity Distribution
1.12101.17171.21501.12101.17171.2150SellBuy

 

 

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