#EURUSD - 10062024EURUSD made a complete reversal on NFP on Friday. I gave a long off the PZ or a short off the strong resistance level above for a possible move either direction. Instead, we saw EURUSD based off the PZ, moved up to 1.0896 strong level before a sell down on NFP and closed strongly bearish. Price action on daily and weekly indicate further downside.
Not much major news till Wednesday. IMO, could be some choppy moves. Price is now at 1.0768 double support; could see a recovery from here (watch for the bullish hourly candle) to 1.0796 to close the gap and then to 1.0838 strong level. Overall, IMO, be nimble on longs. I would look to scalp shorts at 1.0796 and look for rejection within PZ at 1.0838 for a move lower to 1.0700 and possibly 1.0640 for a near term low.