Where Is The EURUSD Going?

If you've been watching the Euro over the past year, you know that it has been trading in a wide range on the weekly chart with relatively equal lows and varying highs.  Conventional technical analysis would suggest that multiple touches on "support" or "resistance" shows that an area is strong, but from a very simple supply/demand standpoint, this can't be true.  As we see with the EURUSD, it has made several touches on the bottom side of the range, which is likely suggesting that buyers are being absorbed in that area, which will eventually result in very few buyers in that area, allowing price to fall.  Since this is the case, I am not looking for buying opportunities in that area, but rather looking for shorting opportunities near current price to capitalize on the move down, with the eventual violation of that "support" area and a further continuation of price down to the lower "low risk buying area" as defined on the chart.  Although this is a weekly chart and a wide area to buy against, I would prefer to let the market fall into that area, then go down to a daily chart and look for a reversal candle inside of that "buy" area, or even look for a reversal pattern to form, then I would enter the position with my stop below the nearest pivot low to minimize risk and give me a more precision entry with greater profit potential to the upside.
**NOTE**  This is for educational purposes only.  This information is NOT trading or investment advice.