EURUSD
Updated
EURUSD recently experienced a surge, breaking above the previous month's high (PMH). However, the pair encountered significant resistance near the 1.1000 level, which led to a downward movement after the initial breakout. Following this upward impulse, the market has now entered a period of consolidation. The price is hovering close to the previous month's high, and this area could see some choppy trading in the coming days. The formation of a bearish long-tailed bar on the weekly chart indicates selling pressure at this resistance level. It's crucial to monitor how the market behaves around these key levels to anticipate its next move, with the support level around 1.08650 as the target.
Trade closed: stop reached
Price moved in the opposite direction
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