EurUsd breaking higher?
- Hints suggest that EurUsd could break first resistance around 1.1630
- W Pattern happened, Short could have been triggered but market formed already a bullish pinbar on Center Point.
- If EurUsd breaks above previous resistance (W area) should act as support
- MATRIOSCHA Pattern (smaller opposite Pattern included into large Pattern) is a strong set up as it indicates market is ranging. What happens after a range is a trend !
- Aslo notice that if you refer to CSA (set true into Indi for 1 chart only) it shows that Eur is the top leader currency right now.
- The last shoulder leg of W Pattern is a higher low.
This is the way I read chart and markets seems ready to break higher.
Trade: Long
SL should be well located below Center Point @1.1600 area
TP could be placed @ 1.1685