I was bullish EURUSD yesterday on the divergence which worked well, not perfectly. Initial long on holding of strong level did not work; the second long off the support below almost exactly held the low, before the rally.
Rather huge rally, going to the highs, but still below Wednesday's high. Lots of levels above, 1.0885 strong level, 1.0865 strong level below, which could be holding. So price is stuck between two strong levels. I see a possible pullback before further up.
Possible move would be price take out 1.0885 on a fake breakout, but get rejected for a down move to 1.0826 and 1.0810 which would be a good level to go long from to target 1.0885 and 1.0905. Reason for the pullback is the bearish divergence. No need to trade the pullback; can wait for it to happe and go long.
Rather huge rally, going to the highs, but still below Wednesday's high. Lots of levels above, 1.0885 strong level, 1.0865 strong level below, which could be holding. So price is stuck between two strong levels. I see a possible pullback before further up.
Possible move would be price take out 1.0885 on a fake breakout, but get rejected for a down move to 1.0826 and 1.0810 which would be a good level to go long from to target 1.0885 and 1.0905. Reason for the pullback is the bearish divergence. No need to trade the pullback; can wait for it to happe and go long.
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