In the previous analysis of EURUSD, I suggested 2 scenarios for the development of the price action for this pair. The first scenario which I deemed a higher probability one, turned out to be the one that played out.
In the next trading hours (days), for EURUSD I see the price climbing to the critical area marked on the chart and then we have to reassess the structure to see if the area acts like a resistance and pushes a down move or it acts like a support once broken and we go to new local highs.
NB: If the price doesn't reach the marked area, then the higher probability move is a down move.
Trade with care.
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. We do not recommend making hurried trading decisions. You should always understand the risk that trading implies and that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
In the next trading hours (days), for EURUSD I see the price climbing to the critical area marked on the chart and then we have to reassess the structure to see if the area acts like a resistance and pushes a down move or it acts like a support once broken and we go to new local highs.
NB: If the price doesn't reach the marked area, then the higher probability move is a down move.
Trade with care.
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. We do not recommend making hurried trading decisions. You should always understand the risk that trading implies and that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
