EURUSD made a sharp drop after breaking the messy wedge pattern to the downside recently. After which price did a whipsaw and turned back up making a large Bullish Pin Bar. The next Daily candlestick broke low again through the 1.083 Support structure, this time officially closing and exposing the 1.072 as our next Support area and placing the 1.083 as resistance.
Price is likely to return up to our new resistance. This may create an opportunity for a SELL trade if we are given a proper rejection of 1.083.
Price is likely to return up to our new resistance. This may create an opportunity for a SELL trade if we are given a proper rejection of 1.083.