EURUSD has been ranging between the prices of 1.0530 and 1.0750. Market is reaching at the resistance level from where we are looking at the short position. If market rejects the resistance, we will take the short position. Overall, the trend is still unclear.

The ascending trendline is on the verge of breaking out for sells but after testing the support.

There is no retracement indication in this setup.

As the market is ranging, the EMA 50 keeps on moving bullish and bearish and right now, its bullish. We cannot ascertain the exact direction of the EMA 50.

RSI is at 57. It needs to  head over to the over bought region before we take any decision for the shorts. 

Lets short EURUSD

Mar 20 2023