Lingrid | EURUSD pullback from Strong RESISTANCE zone

2024년 8월 12일

EURUSD recently surged and broke the previous month's high (PMH). However, it faced strong resistance at the 1.1000 level, leading to a downward push after the initial breakout. Following this impulse move upward, the market has now entered a consolidation phase. The price is trading close to the previous month's high and at this area we can expect a potentially choppy market for the next few days. The formation of a berish long-tailed bar on the weekly timeframe, suggests a selling pressure at this resistance. Keep an eye on how the market reacts around these key level to gauge its next move. My goal is the support level around 1.08650


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