By looking at the 4hr chart, it clearly shows continuation of EURUSD bearish trend by breaking down of key support area 1.0770 which has now turned into a strong resistance area. Today, we have a lot of big news coming out from USA which can have big impact on the direction of possible impulse leg. Also ECB is expected to keep interest rates at 4.25 which can trigger a strong impulsive wave. However, ECB may surprise us by hiking rate which may cause deeper correction in EURUSD bear trend. Therefore prepare for both Short and Long entries with proper risk to reward management.
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