will it be able to break the strong resistance

2 ก.ค. 2017

well , right now the eurusd is standing at a strong weekly resistance. actually the market is moving in a chennel on weekly timeframe for a long time. and from the past market has bounced from the lower trendline but has not able to break the resistance and go up for the upper trendline. right above the weekly resistance there stands the 200 ema which acts as dynamic resistance. in the coming weeks we have to see if price can break above both resistance and close as some bullish candle. then i will consider for long .
untill then i will look for going short if market cannot sustain a upward break out. the reason is that market had struggled for many days to reach the resistance. i will post some lower timeframe charts to explain

2 ก.ค. 2017

บันทึกช่วยจำ

here on daily char you see the rectangle right before the resistance. how many days it has consalidated there. i have seen many traders attempting shorts in that range. but the last three days were all bullish candles. so thats why i am still neutral until some price action develop there. the momentum is not enough for sustainig a bullish breakout