EURUSD - Floating between 2 important levels
Hi guys,
Happy Holidays! The EURUSD consolidated after the FED release, but were to next? We are currently stuck between the 1.1860 and 1.1716 levels. Until one of these levels fail, we won't know where we are going. Wait for a firm break before entering a trade. The EURUSD loves head-fakes around key levels.
The Daily channel is a good guild for potential targets. We have a lot more room to the downside, but we need to wait for confirmation. Most of the Technicals are Bullish, but until one of the marked supply zones/areas fail, we won't know for sure.
Hope that helps,
Riff (a.k.a. Mouse Clicker for all of the ole skool 4xlounge peeps)
Happy Holidays! The EURUSD consolidated after the FED release, but were to next? We are currently stuck between the 1.1860 and 1.1716 levels. Until one of these levels fail, we won't know where we are going. Wait for a firm break before entering a trade. The EURUSD loves head-fakes around key levels.
The Daily channel is a good guild for potential targets. We have a lot more room to the downside, but we need to wait for confirmation. Most of the Technicals are Bullish, but until one of the marked supply zones/areas fail, we won't know for sure.
Hope that helps,
Riff (a.k.a. Mouse Clicker for all of the ole skool 4xlounge peeps)
Comment:
The Daily Currency Barometer doesn't really help right now. Both are below the 50 level and touching. Based on the current data, it looks like the EUR wants to go higher, but we won't know until they separate a little.
