Yesterday I was looking at some downside in EURUSD though the manner for that is not so clear. I was looking at either a move up (as price is above PZ) to first resistance for a short down or if PZ breaks, for a move down to weekly BZ. In the end the latter case happened as price broke lower, re-test the highs and lows was at the 1.0878 level I gave. On the other GBPISD was strong all the way with BZ holding it for a move higher.
So what is it for today? I am going to cover EURUSD only and not GBPUSD. This is just based on the view that we COULD see a break lower in EURUSD (though I have no strong views of DXY).
Price is now within the PZ and below BZ. I have provided two possible paths for a move lower; either short on break of PZ or if it moves up from here first, a rejection off 1.09 or so for a move lower.
So what is it for today? I am going to cover EURUSD only and not GBPUSD. This is just based on the view that we COULD see a break lower in EURUSD (though I have no strong views of DXY).
Price is now within the PZ and below BZ. I have provided two possible paths for a move lower; either short on break of PZ or if it moves up from here first, a rejection off 1.09 or so for a move lower.
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