I gave a few possible scenarios for EURUSD yesterday; and of course one of them worked out, not exactly but similarly. I gave a long on a retest of 1.0800 but the lowest it went was 1.0810 before going to 1.0858; but the path was correct. I also gave a possible short off 1.0860. I said it might be rejected by 1.0860, but base at PZ before going higher. We hit 1.0858 and it went back to PZ and base there.
Daily price action yesterday is bullish but trend is still down. I would say the bulls won yesterday but it is FOMC today and anything can happen so if in doubt, stay out.
Given that I am more bullish bias, I would only like to see a possible spike and rejection off the 1.0864 level above (this dip is not necessary), dip to retest 1.0800 and hold for a rally up.
Overall it does look toppish here, thus the down move first is likely.
Daily price action yesterday is bullish but trend is still down. I would say the bulls won yesterday but it is FOMC today and anything can happen so if in doubt, stay out.
Given that I am more bullish bias, I would only like to see a possible spike and rejection off the 1.0864 level above (this dip is not necessary), dip to retest 1.0800 and hold for a rally up.
Overall it does look toppish here, thus the down move first is likely.
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