EURUSD Finishing its Correction
As we continue to hold some of our EUR/USD positions, we entered a few new positions on the pair. Recent sessions have seen the currency touching the 1.090 support, a 0.618 Fibonacci retracement level from its high, suggesting a potential bullish reversal in the making as this whole week it has been moving downwards making a correction.
Technical Landscape:
EUR/USD's current trajectory is still looking bullish, with the 1.09 support zone, enriched by Fibonacci levels, providing a solid foundation for the pair’s upward momentum. A sustained breach of the 1.0960 mark could signal the start of a bullish leg.
Market Context:
The market is still processing the Fed's hold on rate hikes, mirrored in the pair's technical resilience. Today’s unemployment claims will be closely scrutinized for potential impact.
Strategic Stance:
In alignment with a bullish outlook, we’re on the lookout for entry points post-pullbacks. Our attention remains on the 1.096 level, as breaks or bounces from these points will likely shape the near-term trend narrative.
Technical Landscape:
EUR/USD's current trajectory is still looking bullish, with the 1.09 support zone, enriched by Fibonacci levels, providing a solid foundation for the pair’s upward momentum. A sustained breach of the 1.0960 mark could signal the start of a bullish leg.
Market Context:
The market is still processing the Fed's hold on rate hikes, mirrored in the pair's technical resilience. Today’s unemployment claims will be closely scrutinized for potential impact.
Strategic Stance:
In alignment with a bullish outlook, we’re on the lookout for entry points post-pullbacks. Our attention remains on the 1.096 level, as breaks or bounces from these points will likely shape the near-term trend narrative.
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