Over the next few days, I will have a short-term perspective and bias on EURUSD as price is currently range bound. I will be observing price as it moves between the support and resistance zones highlighted in the chart below while observing price action for a longer-term swing setup.
My initial bias will be to look for price to make a slight move higher in the area marked (1). If this occurs, I will be looking for signs of a reversal lower and will sell EURUSD closing the position in the area of support.
If price first moves lower into the support zone, I will be looking for price to drop to the area marked (2). If this occurs, I will be looking for signs of a reversal and will buy EURUSD with a profit target in the resistance zone.