The market went lower, but it bounced off the support zone. It formed a long-tailed bar on the daily timeframe. The market tested the middle of the range zone and took the liquidity. The price broke and fixed above the 1.08500 level. I think the market may move sideways until the NY session in anticipation of the FOMC. I expect a pullback, then a move higher towards the next resistance. My goal is the resistance at 1.08940
Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩💻
Trade closed: target reached
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Even though the price went a little bit lower, it reached the target.