It is getting hard to decide where the EURO is going these days. The charts offer few clues and it is up to nimble traders to find their space.
While the daily chart shows EURUSD firmly in a downtrend, we are after all approaching the resistance and enthusiastic bulls make see a case for an up-move. It is usually common sense not to defy the trend and indeed the reward to risk proposition seems to favour a short. It is however possible that a reversal might occur if the charts are showing a higher base.
Careful bulls should only enter after retracement following a confirmed move. Bears watch for trigger.
EURUSD higher base in 2 weeks
