The EURUSD is currently in uptrend/range but as I have already pointed out last week 1.1050 has been the target. EURUSD bounced almost hitting the target and then dipped towards 1.0900 support. We have 2 possible scenarios. 1.1000 is important POC zone (October trend line, H3, historical sellers, last swing high) and only H1/H4 close above 1.1000 or strong momentum break will take the pair up to 1.1050 and 1.1150 zone subsequently.
However if the pair stays below 1.1000 we can expect 1.0900 and 1.0805 possibly due to a strong confluence within the zone (WPP, historical buyers, E89). If the pair breaks below 1.0750 weekly L3 support we might see EURUSD dip to 1.0665 zone. In the wake of FOMC meeting we might see bi-directional move so be prepared.
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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