Yesterday I was neutral on the direction of EURUSD but I was bullish GBPUSD.
I said 1.0954 is a strong resistance and if it goes up first, look for a possible rejection down. Indeed 1.0954 was hit perfectly and it came down 20 pips, found support at PZ and rallied higher. What's the clue? The clue was strength in GBPUSD, hitting my buy limit and rallied over 50 pips. Watch for confluence.
But anyway, IMO EURUSD is now bullish in terms of price action and trend. IMO should see further upside for today. Of course, it is CPI day so anything can happen. Overall, as mentioned, a pullback would likely be a gift to fuel further upside.
Watching the move down back to 1.0954 or further down to 1.0940 to find support and a move higher to 1.1032 or 1.1004
I said 1.0954 is a strong resistance and if it goes up first, look for a possible rejection down. Indeed 1.0954 was hit perfectly and it came down 20 pips, found support at PZ and rallied higher. What's the clue? The clue was strength in GBPUSD, hitting my buy limit and rallied over 50 pips. Watch for confluence.
But anyway, IMO EURUSD is now bullish in terms of price action and trend. IMO should see further upside for today. Of course, it is CPI day so anything can happen. Overall, as mentioned, a pullback would likely be a gift to fuel further upside.
Watching the move down back to 1.0954 or further down to 1.0940 to find support and a move higher to 1.1032 or 1.1004
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