I was wrong on EURUSD move yesterday; was looking for a move lower on rejection off the PZ but instead EURUSD re-tested Tuesday's low, held perfectly by the BZ given, before staging a range day. It seemed like BOJ is selling USD as an intervention as USDJPY is coming down.
With yesterday's bullish close, one would expect further upside. Not wanting to fade the trend but 1.0903 is a confluence of double resistance. And current price action IMO indicate a pullback first.
One might not want to go short but I would only be interested to go long at 1.0855 for a move higher, or a possible break lower. If we get a reversal here with daily close below 1.0855, it will be very bearish with further downside in the coming days.
With yesterday's bullish close, one would expect further upside. Not wanting to fade the trend but 1.0903 is a confluence of double resistance. And current price action IMO indicate a pullback first.
One might not want to go short but I would only be interested to go long at 1.0855 for a move higher, or a possible break lower. If we get a reversal here with daily close below 1.0855, it will be very bearish with further downside in the coming days.
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