The EUR/USD has been captured within a range that could either break or present us with support/resistance trading opportunities.
The pair has bounced from 1.1320 zone and it is heading towards W H3 – 1.1388 and W H4 1.1410. If we see 1.1410 that could be a selling opportunity if the price is still range bound. Selling from 1.1410 should make a retest of 1.1370 before any move lower. However a H1 bullish close above 1.1410 will see the EUR/USD up to 1.1436 and possibly 1.1475. A drop below 1.1320 targets 1.1290 and 1.1250. So watch for rejections or breakout opportunities.
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