#EURUSD - 16082024
I was bullish on EURUSD yesterday; but well things move totally opposite though as compared to GBPUSD. EURUSD was capped by PZ and flushed down on data, but it made a good test of double support and also where my previous buy level (given on Wednesday) is and market gave a good rally of 40 pips to strong level before pulling back.
Given the somewhat bearish price action yesterday, is it time for a move lower from here? However, GBPUSD is telling quite a different story (more bullish). EURUSD could well be weaker but it might not be that bearish IMO. If I were to be long, GBPUSD would likely be a better candidate, but IMO EURUSD could still make a move higher from here. 2 possible scenarios: price is at PZ now; either a break above PZ, re-test for a long, or price could be rejected by PZ back down to yesterday's low and double support for a quick up move. Price target would be to 1.1060 triple level.
Given the somewhat bearish price action yesterday, is it time for a move lower from here? However, GBPUSD is telling quite a different story (more bullish). EURUSD could well be weaker but it might not be that bearish IMO. If I were to be long, GBPUSD would likely be a better candidate, but IMO EURUSD could still make a move higher from here. 2 possible scenarios: price is at PZ now; either a break above PZ, re-test for a long, or price could be rejected by PZ back down to yesterday's low and double support for a quick up move. Price target would be to 1.1060 triple level.
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