One thing is clear, EurUsd is in a strong downtrend.
However, as I said in my previous analysis, the pair is now in a very strong support zone and a correction is probable.
Looking at the posted hourly chart we can see that EurUsd has formed a base in this zone and we can have a corrective leg up.
Resistance is in the 1.0750-1.08 zone and in this zone, short-term traders can close their long positions.
A new low would negate this scenario
However, as I said in my previous analysis, the pair is now in a very strong support zone and a correction is probable.
Looking at the posted hourly chart we can see that EurUsd has formed a base in this zone and we can have a corrective leg up.
Resistance is in the 1.0750-1.08 zone and in this zone, short-term traders can close their long positions.
A new low would negate this scenario
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