EURUSD Analysis: Strategic Approach in Volatility Phase

On the Weekly Chart, this looks like a regular day strolling down the road of simple support and resistance trading.

This is when new traders got it all wrong!

On the Weekly Chart, sideway consolidation occurred. When sideway consolidation happens, market expansion, known as a volatility increase phase, will definitely follow.

From what we had, at this moment, I'll be more inclined to take a buying opportunity at 1.0842 on the 1-hourly chart than to short at 1.0852.

Of course, this is not a sure thing; always plan and follow your trade plan.