EURUSD on the monthly timeframe trading in a larger balance between 1.0482 and 1.145 (rough estimate) since the start of 2015. Its been more than 2 years and EURUSD is trading is the tighter range on the larger timeframe. Now EURUSD is trading at the edge of the top balance. In the last view on EURUSD we viewed 1.0651 as a critical support zone for the uptrend to continue
Sentiment remains positive across all the timeframes and momentum from the long term players are clearly up. Recent shift from negative sentiment to positive sentiment in weekly and daily timeframe could bring more momentum breakout traders to push the EURUSD outside the balance.
Monitoring the daily sentiment is critical for the current uptrend. Any Change in daily sentiment from positive to negative will delay the breakout further.
