Range Bound

Launch Chart
KUNAL KAMBLE
EURUSD
·
Jul 26 2022
snapshot
EUR/USD

The Pair is trading in a range at lower levels. The Pair is consolidating between 1.0298-1.0102, we need to wait for the Index to break beyond this level, if the Index is able to break on either side, following are the conditions which need to be followed.
Condition 1.
If the breakout is on the upside the pair has to close above 1.0298 levels, wait for one candle to close above this level, if it is able to close above the mentioned level start buying.
If the RSI is trading above 73 ignore the breakout.

Condition 2
If the breakout is on the downside the pair has to close below 1.0102 levels, wait for one candle to close below the level, if it is able to close below the mentioned level start selling.

Advice : Wait For Breakout.