EURUSD Bullish with caution

١٥ أكتوبر ٢٠١٧

My overall view on the EURUSD is bullish. However, once price hit 1.20193 the pair has really just been in consolidation. I have 1.18766 plotted as an area of concern because of the support and resistance that has occurred at that level. IF price breaks and closes below 1.1660 we will be in what I would call a trend rotation. (going from bullish to bearish) IF we get the rotation in trend we could see a test of 1.1473. Meanwhile, I will be trading the EURUSD on the lower time frame IF price puts in impulsive moves and then looking for my entry reason to be met. No IF price does end up closing above 1.20193 before it breaks lower then my bullish bias will remain intact. I would then be looking for a test of the 1.2200 even handle which is also the 127 ext of the last move up before the consolidation started. This is obviously just my thought process on the overall picture on the pair. Trading involves risk.