In the recent analysis (15th Jan, Friday), I expected EU to have a downwards breakout of 1.2130 support zone, followed by further bearish continuation with 1.20650 as the target, which was exactly what the market performed. Currently will be looking for short term selling opportunities after some pullback possibly towards 1.2126 minor resistance zone for a re-test for further bearish continuation setup . 1.2067 zone (recent swing low) is the initial target, the secondary target will be 1.2010 key support zone. Do be aware that 1.2010 zone serves as a key buyers' territory, If we notice further bearish momentum breaching that zone, we could expect further selling pressure. However, as long as price stays above 1.2010 support zone, remain bullish bias. Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
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Trade safe.
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Friday's (15th Jan) analysis
