#EURUSD - 10122024
I called for a move lower for EURUSD yesterday off the PZ. EURUSD came down, rallied higher, nicely to PZ and sold back down to close near the lows for a good 45pips or so.
I will not say that yesterday's price action is bearish. IMO, the thesis which I gave yesterday is still valid, that is, EURUSD is coming down into support. But I am expecting buyers to come in and that could move EURUSD higher. That is a possibility thus while near term price action is bearish, it could find support at one of the levels and move higher.
But for now, I am looking at the PZ to hold for a move lower, with 1.05/512 as the price target, but look out for a possible strong pullback/reversal from this zone.
I will not say that yesterday's price action is bearish. IMO, the thesis which I gave yesterday is still valid, that is, EURUSD is coming down into support. But I am expecting buyers to come in and that could move EURUSD higher. That is a possibility thus while near term price action is bearish, it could find support at one of the levels and move higher.
But for now, I am looking at the PZ to hold for a move lower, with 1.05/512 as the price target, but look out for a possible strong pullback/reversal from this zone.
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