Euro / Dollar AS

EURUSD Retracement before impulse to the upside

Since Price failed to close/ break above 1.22000 last week that to me indicates that there wasn't enough bullish momentum to visit the previous highs. So that being said I am anticipating price to retrace to 1.21700 given that its been acting as a major area of support/resistance for the past month. Before retracing to 1.21300 given that its an order block zone & depending how price closes at the support/resistance or order block zone we can see price wicking to the 1.2100 area to fill some imbalance before heading back up to 1.22000 area. I am anticipating this steep retracement for EURUSD given that price didn't have enough momentum to break past the 1.22000 area & potentially going to the 1.20750 is a major area of support/resistance & a well respected order block zone that price has yet to retest since the strong impulse to the upside. Again this is just my opinion & what I see EURUSD doing this week.

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