This zone is very, very strong.
EU is technically above the 200 EMA on the 4 hour, so ideally you would look for buys, BUT I see a pretty clear supply zone that I have marked.
I question if the zone stops EU this time as the rally just from Friday is already fairly strong so far.
Could this have enough bullish momentum to break above the most recent turning points?
This is a pair to watch with Draghi speaking again on Tuesday during London Session (03:15 EST)
Draghi has a tendency to make the EURO drop when he speaks however, last Thursday was the opposite of this.
Let's see the results of the speech and resulting price action.
EU is technically above the 200 EMA on the 4 hour, so ideally you would look for buys, BUT I see a pretty clear supply zone that I have marked.
I question if the zone stops EU this time as the rally just from Friday is already fairly strong so far.
Could this have enough bullish momentum to break above the most recent turning points?
This is a pair to watch with Draghi speaking again on Tuesday during London Session (03:15 EST)
Draghi has a tendency to make the EURO drop when he speaks however, last Thursday was the opposite of this.
Let's see the results of the speech and resulting price action.