#EURUSD - 18122024
I was bullish EURUSD yesterday but it made a new high then came down to level below, before recovering but closing with a bearish candle. Is the highs in? Or is this just a pullback for another leg higher.
This IMO, is a tricky question. With yesterday's bearish candle, I do see a move lower. Thus a possible scenario, if I am overall bullish, would be, for price to come down to clear the lows, before buyers come in and bring this higher. 1.0468 is thus a good level to go long off.
However, if price continues up from here, I would be wary of a pullback from a resistance above and 1.0516 is such a level. Of course, it can trade to 1.0516, sell down to 1.0468 then rally up to close green.
This IMO, is a tricky question. With yesterday's bearish candle, I do see a move lower. Thus a possible scenario, if I am overall bullish, would be, for price to come down to clear the lows, before buyers come in and bring this higher. 1.0468 is thus a good level to go long off.
However, if price continues up from here, I would be wary of a pullback from a resistance above and 1.0516 is such a level. Of course, it can trade to 1.0516, sell down to 1.0468 then rally up to close green.
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