+ what's happening from technical perspective only and my expectations for EUR/USD for the near term;
+ how range-box breakout (i.e. RBBO method) analysis / trading is applied.
Note: For further details on use of range-box, please refer to my previous article
An example of RBBO method could be seen at the later part of this article.
My view for EUR/USD :
The 3-months chart shows price breaking below the blue-dashed ray line and proceed to consolidate above it for the next 5 bars (since early March 2015) and counting.
Going forward, how price reacts after reaching either of the 2 blue-solid lines drawn on the 1-week chart would be critical.
At this point in time, price has been below the mid-Bollinger for more than 2 bars.
We are also seeing price trending downwards; making lower highs and lower lows.
Price should move towards the blue-solid-horizontal price level. But how price reacts after reaching the blue-dashed line would be critical as it has been a consistent road-block the past few times.
Example of range-box break-out (RBBO) method a…