EURUSD may bounce up!

EURUSD daily chart
Let us look at the daily chart of the EURUSD

The EURUSD failed to penetrate the previous high and retraced a bit. I have drawn a possible target for a bounce to the upside. I also have drawn a trend line that could boost the EURUSD up again.

What will I do?
I will be looking at buying the EURUSD once it is close to the trend line and/or support. I will use a lower time frame like the 4h and 1h to look for an entry. A good trader will wait for a nice setup and that is what I am going to do. Just let if all unfold and see if I can get a good entry. The best entries mostly can be found after a dip and around support.


Man cannot discover new oceans unless he has the courage to lose sight of the shore.
Andre Gide (French writer, humanist and moralist, 1869-1951)

The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice.
Henry Hazlitt (American journalist, economist, 1894-1993)

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