#EURUSD - 31052024Despite EURUSD selling down on Wednesday, I said to do nothing unless 1.0834 trades for the shorts or to buy from lower. Indeed, instead of a follow through, EURUSD dipped before rallying up to close at the highs at 1.0840 or so. While I do say short at 1.0834, we can see that sellers did not appear at that price
What's next after the whipsaw? Price is capped by 1.0834 strong level with PZ below. I have no strong views on the direction but two possible scenarios: down move next - with 1.0834 capping the highs, short with stops above targeting 1.0764. Another possible scenario is watch reaction at 1.0818, if buyers appear to buy this up, or conversely, trade the break out above 1.0834 for the move to 1.0886 next strong level.