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EURUSD: Can Bulls hold 1.12000?


Daily Time Frame: Starting on the higher time frame we can see price approaching previous swing lows in confluence with key weekly psychological support with signs of slow down/indecision.

 

4hr Time Frame: Scaling down to the 4hr we can see that price is creating a reversal formation with signs of wick rejection at this area of support. If price manages to hold above, look to buy this back up to 1.14000 key psychological resistance. However, if price manages to break and close below this support, we must reevaluate price action. Due to the uncertainty of market fluidity risk management is key.

 

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