EURUSD made a nice PZ to support level move yesterday, before price found support and is now drifting higher. The bounce off the lows yesterday is a strong level, and market gave a strong bounce. Price action yesterday is bearish and point to further downside, but today, EURUSD opened and started to move up first.
TBH I have no strong views of the next direction. EURUSD can well find rejection at 1.0945, make a lower high before continuing down for a deeper pullback, or the bounce off the lows yesterday is a near term low and EURUSD continue higher.
I will just give two possible trades off the levels. One is short from 1.0945 for a move lower, the other, a long from 1.0903 strong level for a move up. Today is CPI day; be nimble and trade safe.
TBH I have no strong views of the next direction. EURUSD can well find rejection at 1.0945, make a lower high before continuing down for a deeper pullback, or the bounce off the lows yesterday is a near term low and EURUSD continue higher.
I will just give two possible trades off the levels. One is short from 1.0945 for a move lower, the other, a long from 1.0903 strong level for a move up. Today is CPI day; be nimble and trade safe.
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