EURUSD sees a little bit of bounce back after the support of the goal reached




Trend line and old swing low testedThe the EURUSD has expanded even to the 1.1876-78 area where the trend line support on the daily and the 1.1876 swing low, from 2010 to cut through. The low reached 1.1879. Good enough? Yes, I think so. (see the prior post describing the level).

That said, the 100 bar MA on the 4-hour chart is now resistance. A move above is needed to give the dip buyers against the double support area some added confidence. Failure to do so could easily see the shorts back and take another stab at the 1.1876 level.

Objective achieved…yes, but now we see how good is the bounce.



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