As EURUSD rebounded after breaking the 4-hour correction trend line, it is likely to become a correction pattern.
A retracement is expected near the daily supply zone above, but a reversal is likely as the upswing support seems weak.
Since there is also a weekly supply zone just above the daily supply zone, the probability of retracement and reversal is high in the resistance zone.
And, on the DXY chart, it is also descending into the daily demand zone, where there is a high possibility of a rebound. From the end of this week to next week, it is very likely that the dollar will turn higher.
Compare the EURUSD and DXY charts and take a good look at the area.
A retracement is expected near the daily supply zone above, but a reversal is likely as the upswing support seems weak.
Since there is also a weekly supply zone just above the daily supply zone, the probability of retracement and reversal is high in the resistance zone.
And, on the DXY chart, it is also descending into the daily demand zone, where there is a high possibility of a rebound. From the end of this week to next week, it is very likely that the dollar will turn higher.
Compare the EURUSD and DXY charts and take a good look at the area.