#EURUSD - 26 March
EURUSD sold off on last Thursday post FOMC, and further on Friday hitting the 61.8 Fib and also my strong level. I said EURUSD could come down from the PZ but I was of the opinion of a further pullback before downside. My sell level was at 1.0851.
Yesterday was a slow moving day IMO as EURUSD just based and slowly moved above the PZ and did not hit the 1.0851 level but price has gone up further today on open and is approaching that level.
Price action yesterday is bullish thus question is if we will see further upside. I would say to watch the 1.0851 level. A rejection off the level would be a possible next leg down to target previous low at 1.0799 strong level before further downside to 1.0759. Will not discount the possibility of a break above, in which 1.0899 will be the upside target. I am leaning towards the downside for today.
Yesterday was a slow moving day IMO as EURUSD just based and slowly moved above the PZ and did not hit the 1.0851 level but price has gone up further today on open and is approaching that level.
Price action yesterday is bullish thus question is if we will see further upside. I would say to watch the 1.0851 level. A rejection off the level would be a possible next leg down to target previous low at 1.0799 strong level before further downside to 1.0759. Will not discount the possibility of a break above, in which 1.0899 will be the upside target. I am leaning towards the downside for today.
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