EUR/USD is currently in a consolidation period on the D1 timeframe. Price has tested the demand zone 2 times. If price breaks through the D1 support then a short entry will be on the table. If price holds and breaks previous resistance, then we should see a nice reversal and enter a long position.
Looking at the overall technical analysis from our free charts, we see that EUR/USD is still in a Sell Zone.
If price breaks to the downside and candle body holds below support of 1.119143, then a short entry with a target of 1.11756 will be the goal.
If price breaks to the upside and the candle body holds above resistance of 1.125258, then a long entry with targets of 1.128438 – 1.131945 will be our target.
Cheers to another successful week!