EURUSD's Snap Bullish Rebound

EURUSD's price action rebounded promptly from the previous swing low at 1.11250, as per the expectations of the Wyckoff method. It is now set to probe the 61.8 per cent Fibonacci retracement level at 1.12642, as adverse volatility from the war in Ukraine mounts.

The behaviour of the price action around this crucial threshold will determine the next most likely direction for the pair.