If you look closely you will see that the previous supportive level failed to become resistance, after breaking the descending trendline it has once again become support. I now expect the price to show signs of rejections here to give us a potential buy entry, let's see how this one unfolds throughout today. If you consider trading any EUR pairs today, please be aware of the interest rate decision in the coming hours.
IG Client Sentiment - 57% Short COT Data - 72% Short