Lingrid | EURUSD reached DEMAND zone. Possible LONG

18 בנוב׳

EURUSD has reached the psychological level of 1.0500. On the 1H timeframe, the market has formed a double bottom pattern. Currently, the price is moving sideways above this psychological level, which may indicate a slow down in selling pressure. It's worth noting that the price surged from the support zone about a year ago, which we can refer to as a demand zone since the price has returned to it after one year. I believe the market could create a complex pullback, especially considering that the DXY has reached a strong resistance zone. I anticipate some reaction from this zone, with the price likely pulling back toward the downward trendline. My goal is resistance zone around 1.06350

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