EURUSD – The Battle Between the Bulls and the Bears

06 Nov - EURUSD Daily

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Hi All,

Just a quick update on this pair. I made a commentary over the weekend analysis (see article) giving a short bias for this pair. However, looking at Price Action in the last 2 days, it seems to suggest a different view now.

On Monday, price made a quick drop to form a low test bar and that bar has given me a nice touch on a bullish channel. On top of that, there is also a minor support level (~1.34) suggesting a bullish set up as well. While my view of the false break is still valid, I did overlook the channel and support during the weekend.

Nonetheless, my view is still slightly tilted towards a short but, with the new information at hand, I will keep a close eye on both possibilities. Also, bearing in mind that there are a few news release in the pipeline (include Non-farm). With that, I look forward to the next move.

Thank you for reading and happy trading.

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