The EURUSD retreated lower yesterday bottomed at 1.0798. The “shooting star” formation on daily chart I showed you yesterday gave us a valid bearish pullback warning. The bias is bearish in nearest term testing the H1 EMA 200 and the trend line support (see my H1 chart below)located around 1.0785. A clear break below that area would expose 1.0725/00 region. Immediate resistance is seen around 1.0850. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 1.0905 would cancel the “shooting star” bearish reversal scenario targeting 1.1000 or higher. Overall I remain neutral.
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