Today our focus is on ECB meeting and EURUSD is expected to reach new lows if fundamentals are aligned with technicals. EURUSD currently stands at L3 level and in order to sell higher we need a pullback as we dont want to sell into support. EQUIDISTANT CHANNEL has been formed after a CONSOLIDATION breakout ( indicated by the blue rectangle on the chart ) and the lower border of the channel is making a good confluence with H3, DPP, 38.2 fib. The POC zone is 1.1100-1.1110 and pullbacks in the zone could be good for new intraday shorts. The target is 1.1000 then 1.0955 if the pair breaks through 1.1000.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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