After EURUSD reached the monthly 'strong' resistance, it made a modest decline due to Dollar sell-off and Euro relief rallies that are currently ongoing. That being said, I highly warn you to STAY AT THE SIDELINES FOR THE MOMENT when trading this pair as there is a high risk due to the current phase of the weak dollar-weak euro. As graphed below, these are the possible plays that may take place for the next trading sessions.
PS The monthly resistance have shown its strength once at 2016-11-09. I was actually long back then and was surprised it spiked just right at my Take Profit before plummeting when Draghi started to speak.
PS The monthly resistance have shown its strength once at 2016-11-09. I was actually long back then and was surprised it spiked just right at my Take Profit before plummeting when Draghi started to speak.
