EURUSD made a slow grind down lower over the past few days but yesterday it moved down to make a new low off a level and rallied all the way up, forming a bullish daily candle. However it is still below last Friday's high thus question remains if market will form a lower high or we are looking for a move higher.
However, yesterday's price action does point to a move higher. I would prefer to have a down move, to 1.0753 (bottom of PZ) or 1.0743 for a long to target above levels, with 1.0833 as near term target.
If however, EURUSD moved up from here, I will look to try a short off 1.0825/35 for a move down to 1.0803 and possibly 1.0775.
However, yesterday's price action does point to a move higher. I would prefer to have a down move, to 1.0753 (bottom of PZ) or 1.0743 for a long to target above levels, with 1.0833 as near term target.
If however, EURUSD moved up from here, I will look to try a short off 1.0825/35 for a move down to 1.0803 and possibly 1.0775.
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