EURUSD is overall bearish trading inside our orange channel, however, it is currently approaching the lower orange trendline
Moreover, the area 1.08 - 1.09 is a "Resistance turned into Support".
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower orange trendline.
As per my trading style:
I will be waiting for it to approach the highlighted purple circle area to look for buy setups (like a double bottom , trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
