EUR/USD Eyeing Possible Whipsaw
Following yesterday’s FOMC-induced advance from daily support between $1.0726 and $1.0739, chart studies on the daily timeframe demonstrate the scope to navigate higher terrain until reaching a resistance zone between $1.0920 and $1.0883.
Given the daily structure and having seen H1 price trading within striking distance of $1.08 support, this could prompt buyers at this level. However, with support positioned below the big figure at $1.0795, a whipsaw below $1.08 into the said support could be seen before buyers attempt to make a show.
Given the daily structure and having seen H1 price trading within striking distance of $1.08 support, this could prompt buyers at this level. However, with support positioned below the big figure at $1.0795, a whipsaw below $1.08 into the said support could be seen before buyers attempt to make a show.
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