EURUSD correctionYesterday, EURUSD dipped to 1,1610 but managed to hold above that level.
This move is seen as a correction within the broader uptrend.
We expect it to end soon, opening up new buying opportunities.
At the current levels, there’s no reason to enter just yet – it’s best to wait for market confirmation.
Eurusduptrend
EURUSD – uptrendYesterday, EURUSD tested the lows around 1,1580 and bounced higher.
This confirms the importance of the support zone and keeps the bullish scenario intact.
There is no change in trend or outlook – the direction remains bullish, with a target of retesting the highs at 1,1760.
All positions should be taken only in the direction of the trend!
Important News for EURUSDYesterday, EURUSD continued moving sideways as the market waits for upcoming news.
Today at 1:30 PM London time, U.S. inflation data will be released.
This report has a strong impact and is likely to set the next direction for the pair.
It’s advisable to reduce your risk and avoid opening new positions before the news comes out.
The goal is to follow the trend once it resumes!