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.