Over the past few days, the pair has been in a sideways consolidation pattern between the 1.19500 resistance level and the 1.19000 support level. The price has been moving back and forth within this range without a clear direction.
Looking at the recent price action, there was a failed attempt to break above the 1.19500 level, with the price pulling back towards the 1.19000 level. This suggests that there may be some selling pressure at the upper end of the range.
There are a few key levels to watch within this range. The first is the 1.19500 level, which represents a potential breakout level if prices can move above it. On the downside, the 1.19000 level is a major support level that has held multiple times in the past and could provide a bounce if tested again.
In terms of liquidity zones, there may be some Buy Side Liquidity (BSL) at the 1.19000 level, where prices have bounced off of multiple times in the past. Additionally, there are a few potential Sell Side Liquidity (SSL) zones above the current price level, including around the 1.19500 level and potentially higher towards 1.20000.
Overall, while the EUR/USD pair has been in a sideways consolidation pattern, there are a few key levels to watch for potential breakout or bounce opportunities.
Looking at the recent price action, there was a failed attempt to break above the 1.19500 level, with the price pulling back towards the 1.19000 level. This suggests that there may be some selling pressure at the upper end of the range.
There are a few key levels to watch within this range. The first is the 1.19500 level, which represents a potential breakout level if prices can move above it. On the downside, the 1.19000 level is a major support level that has held multiple times in the past and could provide a bounce if tested again.
In terms of liquidity zones, there may be some Buy Side Liquidity (BSL) at the 1.19000 level, where prices have bounced off of multiple times in the past. Additionally, there are a few potential Sell Side Liquidity (SSL) zones above the current price level, including around the 1.19500 level and potentially higher towards 1.20000.
Overall, while the EUR/USD pair has been in a sideways consolidation pattern, there are a few key levels to watch for potential breakout or bounce opportunities.