EURUSD bounces from the lows

EURUSD bounces from the lows

The EURUSD is still very much n a bullish structure and is now retesting the previous lows at the 1.2140 level which is also the 76.4% pullback of the last leg up.

We have also hit important short term bearish targets at the 1.618 whilst printing a big bullish divergence at the lows.

Should the reversal pattern break price could rally to retest the previous lows around the 1.2250 and if the DXY continues to dip from these levels we could see a retest of the highs around the 1.2350

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Author : Orlando Gutierrez

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