EUR/USD - Drop Off Or Rally?

17 thg 6, 2020

Hello Traders!,
We have some mid-week analysis with EUR/USD pair, bullish powers has seemed to be put to a stop after reaching the 1.4000 level. Although this could be temporary or a bearish reversal could occur. Lets see how this pari could possibly work out by the end of the week.
What Is The Market Telling Us?

• There is exhaustion of bullish sentiment Daily timeframe after price reached 1.4000 level, indicating possibly sell off
  
• Price has bounce off key level 1.2300 for the 4th time, after a small fakeout, also giving us signs of bullish momentum on the smaller timeframe
  
• We will wait to see how price will
  

When Should We Enter?

• If we are looking to go LONG, we will look for BUYS once price has reach 1.2600
  
• If we are looking to go SHORT, we will ook for SELLS upon a clear break & pullback on our key level