EURUSD Yesterday’s chart analysis
The price has done what I was saying in yesterday’s analysis. The move down to the first support level at $1.17842 was reached and the price pulled back to the $1.18398 level.
Yesterday was a trading day hard for EURUSD to reach the first support easily compared to the previous days when the price had huge bearish candles that took the price down.
The small area between $1.17842 and $1.18398 has held the price previous week in a range so that is why the price has found strong support here.
The price is now on the uptrend support line which was broken and now is retesting that line as a resistance.
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EURUSD Chart Forecast
Today we have news which can impact the market and it is Friday when I usually stay out of the market because we can see unusual market movements.
With news and Friday the price could jump all around hitting stop loss if it is set to close.
We could see the price hitting $1.19000 and 1.17842 levels when news is published so pay attention to avoid news trading and set stop loss to prevent undesired loss.
If we take a look on the daily time frame we can see bullish Pinbar which is not convincing to me. I am still inclined more to bearish scenario becxause the market formation on the H4 time frame does not show bullish strength.
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