Leftover Momentum to end the Week? 😶‍🌫️// Eurusd

Current Price 1.097
0:0 Monthly timeframe
1:36 Weekly timeframe
3:51 Daily timeframe
5:10 Bias for friday
6:14 4hr timeframe
10:15 1hr timeframe

Hello Everyone welcome back to another analysis. Eurusd increased 30 pips against us before dropping 130 Pips in our favor today after we called out a short analysis prior to the last london session 24 hours ago. Quite the engulfing candle created today with expected and priced in EUR interest rates and 2 better than expected USD data points, GDP and Unemployment putting the nail in the coffin so to speak for USD bulls. Alot of momentum today and I'm antincipating some to be left over and continue on to friday. I'm thinking we can get a touch into the 1.09462 4hr support zone but unsure what'll occur after that. Inflation data may act as a catalsyt to keep dropping in favor of USD or we will see the Weekly candle pullback up and create a bottom wick as we close out the week. The latter implies a bullish NY session tomorrow to end the week.

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So we have seen price pull down in favor of the US Dollar to our 4hr support zone 1.09462 where it created a sort of double bottom. This was due to leftover momentum. The later scenario played out in which the weekly candle is pulling back up and price has increased overall on the day. Inflation data acted a catlayst to keep pulling back up as it went 18 pips on releases to the upside. However, with the new 4hr candle we are seeing a drop in favor of the USD so it'll be interesting to see if the weekly candle can continue to pull back up or we fall back towards 1.09462 where we began the intraday ascent.