EURUSD is bottoming
It seems that fundamentals were fully discounted as Wednesday price activity was quite moderate in its recent daily range.
The possibility that EURUSD found a valid support in in area 1.12 would gain positive sentiment in case of a breakout of the dynamic intermediate bearish trendline.
Short term bullish activity could increase given the activity of coverage of shorts trades that were placed below the 61.8% Fibonacci retracement.
1.1380 and then 1.15 the most relevant static resistances in the short term.
If scenario continue to remain bearish, even in the short term, next static supports are at 1.12 and then at 1.1035.
The possibility that EURUSD found a valid support in in area 1.12 would gain positive sentiment in case of a breakout of the dynamic intermediate bearish trendline.
Short term bullish activity could increase given the activity of coverage of shorts trades that were placed below the 61.8% Fibonacci retracement.
1.1380 and then 1.15 the most relevant static resistances in the short term.
If scenario continue to remain bearish, even in the short term, next static supports are at 1.12 and then at 1.1035.
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