Today, the price met a multi-month resistance level at 1.2000 and finished the day rejecting the highs.
EURUSD Trading Setup
The daily candle that printed on the chart is a pin bar. There was a strong bearish reversal during the US session.
The intraday chart is also showing some signs of weakness. The 4H chart topped the day with an inside bar.
I am expecting to see a retracement to at least 1.1850. Price might find some strong support there. It really depends on how it will react to this level.
For now, I am neutral EURUSD. The uptrend is still bullish, so this might be a temporary break. I am also curious to see what the weekly candle will show us on Friday close.
For the time being, I will stay on the sidelines.
EURUSD Trading Setup
The daily candle that printed on the chart is a pin bar. There was a strong bearish reversal during the US session.
The intraday chart is also showing some signs of weakness. The 4H chart topped the day with an inside bar.
I am expecting to see a retracement to at least 1.1850. Price might find some strong support there. It really depends on how it will react to this level.
For now, I am neutral EURUSD. The uptrend is still bullish, so this might be a temporary break. I am also curious to see what the weekly candle will show us on Friday close.
For the time being, I will stay on the sidelines.