EURUSD SCENARIOS EXPLAINED|TRADING PLAN

EURUSD has broken out from the bullish flag, up through the diagonal resistance. Therefore, the target trade is long.

However, I'd wait for the small horizontal structure breakout, which would be a signal of strength for us.

It is important to get a good entry price because there is no reasonable level nearby to place our stops below it, and so one might want to be prepared to re-enter the trade.

The target is twofold. The horizontal level and the last high, which would make a double top and an excellent short.

If the horizontal structure stands, then the pair might as well fall back onto its support.

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