#EURUSD - 30082024
I was bearish EURUSD yesterday following Wednesday's down move. EURUSD pulled back to 1.1138 strong level, in confluence with the PZ and sold down perfectly to the price target and bounced. Did not hit my sell limit but if you followed the PZ, it would be a profitable trade. What's next for today? TBH, daily price action looks very much bearish. And DXY looks very much bullish for further upside to 101.68. That will indicate a new low for EURUSD. Will we? TBH, it is a case of a bounce off yesterday's price target and low off the strong level possibly indicating a near term low vs the case of the bearish price action. Not too clear I would say.
What I see as possibilities, the pullback case, a break above the PZ and a move higher to 1.1122 level before a possible down move, as long as 1.1077 holds. The bearish case, which seemed to be the case now actually, is a sell down to 1.1003, and I would be interested to look for longs off the strong level, especially given that the overall trend is up.
What I see as possibilities, the pullback case, a break above the PZ and a move higher to 1.1122 level before a possible down move, as long as 1.1077 holds. The bearish case, which seemed to be the case now actually, is a sell down to 1.1003, and I would be interested to look for longs off the strong level, especially given that the overall trend is up.
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