Many of you asked me to post an update for EURUSD.
As you can see, bearish rally on the pair continues. However, ahead is a strong weekly level. 1.113 - 1.118 is our potential reversal zone from where I will look for a pullback.
Your confirmation of a coming correctional move / pullback will be a bullish breakout of a falling parallel channel on 1H.
In case of a bearish breakout of a blue zone, a further sharp decline will be expected.
From a current perspective I want you to realize that shoring is not an option at all because we are close to a key level. At the same time buying is too risky still because the market is stuck within the channel on intraday time frames.
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