The pair is currently on a slight decline following yesterday’s rally off the back of USD weakness. Price is currently finding support at 1.18385

The downwards momentum looks to be capped by support around the 1.18150 1.18060 mark. This also finds confluence with the 50% Fibonacci retracement of the current upwards move.

We will look to execute at this zone when we see CSI supporting a reversal on the 1HR chart.

Should the pair break below the demand zone with no CSI to support a reversal, we will consider this trade void.

Key Resistance Level (SL): 1.17300

Entry: 1.18150 (OR) Market Price

Key Support Level (TP): 1.19550

EURUSD

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