EURUSD hit recently the monthly key level around 1.038 and bounced off that up. In the previous years the price jumped back up after touching this key area. However we have now 2 Scenarios to watch.
Scenario nr. 1 (Red Arrow) : The price bounces back down off the 1.082 level and keep ranging between 1.082 and 1.04 and we can sell around 1.8 after confirming bearish signals.
Scenario nr. 2 (Green Arrow): The price breaks the area of 1.082 and closes above. in that case i will be looking for a retest . if the retest is successful we have a possible long trade position targeting 1.115.
The next few days will decide which way we go
Scenario nr. 1 (Red Arrow) : The price bounces back down off the 1.082 level and keep ranging between 1.082 and 1.04 and we can sell around 1.8 after confirming bearish signals.
Scenario nr. 2 (Green Arrow): The price breaks the area of 1.082 and closes above. in that case i will be looking for a retest . if the retest is successful we have a possible long trade position targeting 1.115.
The next few days will decide which way we go