EUR/USD Retracement Sets Up Possible Long Trade

Yesterday, the EUR/USD currency pair managed to touch the 1.1100 target, but then experienced a retracement that led the price to the current level of 1.1040. Today, the price is testing the minimum levels seen during the previous London session. It is from this retest that our idea of a potential new long setup arises, driven by the bias that the market will continue in the direction of the overall trend. Our target for this potential long setup is once again set at 1.1100. We are closely monitoring the market for any signals of confirmation that could strengthen our bullish bias and increase the likelihood of a successful long trade.