EURUSD: Update & Key Level Ahead 🇪🇺🇺🇸
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Hey traders,
Many of you asked me to post an update for EURUSD.
As you can see, bearish rally on the pair continues.
However, ahead is a strong weekly level.
1.113 - 1.118 is our potential reversal zone from where I will look for a pullback.
Your confirmation of a coming correctional move / pullback will be a bullish breakout of a falling parallel channel on 1H.
In case of a bearish breakout of a blue zone,
a further sharp decline will be expected.
From a current perspective I want you to realize that shoring is not an option at all because we are close to a key level.
At the same time buying is too risky still because the market is stuck within the channel on intraday time frames.
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