On the daily chart, EURUSD has broken and closed below the immediate support, however, it is still not a good enough confirmation for me because there's another level of support, looking left.
On the 1 hourly chart, 1.1704 is the critical level that many traders will be looking at. For counter-trend traders, a break and close below 1.1704 will encourage them to engage for an aggressive buy as a support & resistance trade or double bottom trade.
The trend-following or the trend traders will be hoping for the opposite and a bearish flag pattern.
On the 1 hourly chart, 1.1704 is the critical level that many traders will be looking at. For counter-trend traders, a break and close below 1.1704 will encourage them to engage for an aggressive buy as a support & resistance trade or double bottom trade.
The trend-following or the trend traders will be hoping for the opposite and a bearish flag pattern.
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