EUR/USD bounces from the lows to retest the daily highs

Orlando Gutierrez Learn 2 Trade

The EUR/USD is still very much n a bullish structure and is now retesting the previous lows at the 1.2140 level which is also the 76.4% pullback of the last leg up.

We have also hit important short term bearish targets at 1.618 whilst printing a big bullish divergence at the lows.

Should the reversal pattern break price could rally to retest the previous lows around 1.2250 and if the DXY continues to dip from these levels we could see a retest of the highs around the 1.2350

Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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