Mihai_Iacob

EurUsd at crossroads

FX:EURUSD   欧元/美元
Since the recent top from mid-July, EurUsd dropped 800 pips, counting from top to bottom.
Recently, the pair found support shy under 1.05 and today, we are already in the 5th consecutive green day.
Looking at the chart we can see that the pair is at a crossroads at this moment and anything could happen.
On one hand, the trend is still bearish and under important confluence resistance given by the falling trend line and the horizontal resistance from 1.0630
On the other hand, a break above this level should lead to a deeper correction towards 1.08
The best approach is to wait and see for either a break up, or a reversal candle from this level.

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