Yesterday I was looking for EURUSD to test first resistance at 1.0857 which is the level to watch for a possible rejection for a lower high, or a move higher. Indeed, 1.0857 worked good for a 15 pips sell off the level. However, after a double re-test, EURUSD moved higher. Still it would be a breakeven or a small profitable trade.
EURUSD closed green which looked to be more bullish than bearish. But from current looks, EURUSD is still much in range and it hit the highs yesterday, formed what could be a double top given the rejection.
I would look for price to keep below OP 1.0855 for a possible down move to 1.0833 before further upside. 1.0833 is key level to watch; a break below 1.0833, and a daily close below this key level could bring further downside.
EURUSD closed green which looked to be more bullish than bearish. But from current looks, EURUSD is still much in range and it hit the highs yesterday, formed what could be a double top given the rejection.
I would look for price to keep below OP 1.0855 for a possible down move to 1.0833 before further upside. 1.0833 is key level to watch; a break below 1.0833, and a daily close below this key level could bring further downside.
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