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EURUSD: Bounce or Break!


Daily Time Frame: Starting on the higher time frames we can see that price is testing a strong daily psychological support that has been respected multiple times in the past. Last daily closure was off a pinbar rejection at 1.07750 psychological zone. Also notice how price is ranging between 1.07750-1.10000 key psych.

 

4Hr Time Frame: Scaling down we can see price is ranging in between 1.07750-1.08750 key psych. If price manages to stay above this zone look to buy this to 1.08750 and then 1.1000 key zone. However, if bears come in to push this below 1.07750 then look to sell this down to 1.06750. Due to uncertainty of market fluidity, risk management is highly recommended.

 

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