#EURUSD - 18122023
After the bullish move on Thursday, EURUSD sold back down on Friday. I gave 2 levels to go long from, one on a minor pullback (at the PZ) and another on a deeper one (at the BZ).
Price sold off against the PZ so it would not be an entry but at the BZ, price initially found support before going down further. So that would be a loss (if trade was taken).
Weekly wise, we have a very bullish price action, thus expect further upside. Daily price action is bearish but price sold back down to the BZ. Could play both directions today, and it is expected to look for further downside given Friday's sell, but given that price is now at our BZ, it offers a low risk entry to go long from. There were many instances where price sold down to the BZ, forming a bearish price action, only to rebound totally the next day.
Overall, I will look for longs as long as the BZ holds (above 1.0870). Market could still make a fake dip to 1.0880 (strong support) before going up IMO. And I am looking for a possible move to 1.0944 before any selling/pullback to occur, with a possibility to test 1.0970.
Price sold off against the PZ so it would not be an entry but at the BZ, price initially found support before going down further. So that would be a loss (if trade was taken).
Weekly wise, we have a very bullish price action, thus expect further upside. Daily price action is bearish but price sold back down to the BZ. Could play both directions today, and it is expected to look for further downside given Friday's sell, but given that price is now at our BZ, it offers a low risk entry to go long from. There were many instances where price sold down to the BZ, forming a bearish price action, only to rebound totally the next day.
Overall, I will look for longs as long as the BZ holds (above 1.0870). Market could still make a fake dip to 1.0880 (strong support) before going up IMO. And I am looking for a possible move to 1.0944 before any selling/pullback to occur, with a possibility to test 1.0970.
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Feragatname
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