#EURUSD - 19 Jan
Yesterday I am bullish EURUSD; I am looking for a down move to PZ for a long for a move higher. I said based on price action, Wednesday's candle point to a near term low for a move higher.
What we saw interestingly is price hit the strong level (target for longs) given on Wednesday (tradingview.com/chart/EURUSD/No1qNvJZ-EURUSD-17012024/) and got rejected by it perfectly. However, price did not base at BZ, but went to the lower level before finding support and started to move up. I would admit that he move for EURUSD today is not clear. EURUSD continued to be weak, unlike GBPUSD which showed lots of strength yesterday.
However, despite yesterday's rejection, the low on Wednesday is still intact thus market can well move up from here. And we see a bullish move currently. Would not want to chase it but I see a rejection off BZ (1.0894) will be good for a retest of 1.0864 and to look for longs there.
A break of 1.0846 though, could see EURUSD going down to 1.0816 and 1.0794.
What we saw interestingly is price hit the strong level (target for longs) given on Wednesday (tradingview.com/chart/EURUSD/No1qNvJZ-EURUSD-17012024/) and got rejected by it perfectly. However, price did not base at BZ, but went to the lower level before finding support and started to move up. I would admit that he move for EURUSD today is not clear. EURUSD continued to be weak, unlike GBPUSD which showed lots of strength yesterday.
However, despite yesterday's rejection, the low on Wednesday is still intact thus market can well move up from here. And we see a bullish move currently. Would not want to chase it but I see a rejection off BZ (1.0894) will be good for a retest of 1.0864 and to look for longs there.
A break of 1.0846 though, could see EURUSD going down to 1.0816 and 1.0794.
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