demonstrated a significant and rapid price increase and is now trading near the resistance level of 1.1090. The upward movement was supported by a large volume, which means that it was the big players who pushed the pair up.

Given these factors, we can consider the breakdown scenario of this mark, which will allow us to open long positions on this tool.

volume euro

The breakdown movement should be sharp and confident, and supported by a large volume. This will be a more accurate and strong signal to enter the market. Stop the loss should be put just below the breakout volume bar. The first target is the resistance level of 1.1170.

buy euro

As for the sentiment of the market, this technical indicator fully confirms our trading scenario of opening long positions on the euro, as most retail traders are in short positions (trading against the “crowd”).


Review prepared

Andrey Olshanetsky

especially for ICMarkets

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