this is what is expected from eurusd come 2018 in the month of january price is going to consolidate within that range of pink line forming a pattern head and shoulder. towards the end or at the start of February, we will see a break out....this is what to watch. if price break that blue trend line. d head and shoulder formation will be perfectly completed and price could ride down to 1.19400 . if price fail to break the trend line, then price will ride up to 1.2020
my recommendation:
Below 1.19813 short. target 1.19550 or 1.19400. stoploss 1.20008
Above 1.20008 long, target 1.20231 or 1.20500. stoploss 1.19813
pls do further research before you take this as signal to trade. happy new year
I enjoyed your insight- I am currently short and I feel comfortable that we will have a lot of chop to close out January.