EURUSD Reversal Awaiting First Higher Low
EURUSD has hit the major support zone I outlined in my EURUSD short call a few weeks back.
After a well defined downtrend with multiple lower high swings, price began to exhaust showing a possible reversal of this trend, strengthened by the fact this was happening at a major support zone.
We had a very strong green candle break here. However, I am still awaiting our FIRST higher low here. This will be confirmed with higher highs, or a break above these highs here at 1.0863. Ideally, I would like to see a pullback on the opening before this happens.
The DXY may also be showing signs of a pullback on the Daily:
After a well defined downtrend with multiple lower high swings, price began to exhaust showing a possible reversal of this trend, strengthened by the fact this was happening at a major support zone.
We had a very strong green candle break here. However, I am still awaiting our FIRST higher low here. This will be confirmed with higher highs, or a break above these highs here at 1.0863. Ideally, I would like to see a pullback on the opening before this happens.
The DXY may also be showing signs of a pullback on the Daily:
