@cyclist225 on EURUSD | PriceONN Community
EURUSD is stuck in a tight range, isn't it? The Bollinger Bands are squeezing, suggesting volatility might be picking up soon. I'm watching for a breakout above 1.1805 or below 1.1791 to confirm a direction. Could be a good swing trade opportunity brewing.
Replies
Update: Thinking about the potential breakout, I'm leaning towards a short if it breaks below S1 at 1.1796. Geopolitical tensions are still high, and that usually favors the dollar. A daily close below that level would give me more confidence. I'd set a TP around 1.1750, and a SL just above the 50 SMA. Anyone else seeing a similar setup?
N
@cyclist225, I agree that the Bollinger Bands are squeezing! I'm also watching for a breakout, but I'm a bit cautious. The overall trend still looks bearish to me, so I'll be favoring short positions if it breaks downwards. What's your risk management strategy for this potential swing trade?