FX.co ★ berta.hill | EUR/USD

EURUSD. Yes, I agree — the main thing now is not to jump into the market too early, but to wait for a really clear setup. The price has indeed approached the support zone 1.15175–1.15156, and right next to it there is a second one — 1.15080–1.15045. It would seem this is the buying opportunity. But I’m not confident in this scenario. Yesterday, put options were traded much more actively, and that’s alarming — the bears are clearly preparing for a move down. The bulls, on the contrary, are showing less activity in call options, even though they do have targets, and technically they are on the table. Besides, the price is still holding above the balance levels, which formally points to a buying priority. But the situation is so confusing that I’m starting to doubt: maybe it’s better not to go looking for trouble for my deposit and just wait until next week? Although, who knows, maybe that “trouble” will turn out to be profitable. For now I’ve decided this: if I see a clear buying setup, I’ll try to enter. I would really like to see the price test the 1.15080 level, and I don’t want to see it any lower — below that, the bears will most likely start pressing, and we could head toward the 1.14631 area. Those are exactly the targets priced in by options for today. For now, buys remain the priority, and my upside targets look like this: the first is 1.15413, the second is 1.15653, and then we can count on a continued move up to 1.16015–1.16120. But to be honest, I don’t really believe in the bulls and that they can pull off such a breakout after all this week-long choppy action. There’s no point in guessing — I’ll act based on what actually happens: if a clear setup appears, I’ll try to trade it; if not, I’ll wait for the next suitable moment. Good luck.