EURUSD is dropping after US CPI release but this looks like a retracement in uptrend. Judging from price action we could expect a possible rejection from POC zone. POC (61.8,L3,historical buyers) is at 1.0710-00 zone. Bounce should be expected towards 1.0810 and 1.0850 respectively. For the bullish trend to resume the support zone at 1.0675-55 should hold and if it holds the price might spike even to 1.0950 in the upcoming week. Spikes which are formed after the news are not technical, they usually drive the price out of equilibrium. When flow hits the market usually there is no buffer. Price subsequently corrects itself into equlibrium again usually following the trend.
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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