This aligns with the lack of sudden moves on EUR/USD, suggesting the market is digesting the data calmly. All eyes now turn to the Eurozone GDP release at 10:00 AM BST.
Today is expected to be slower than Monday’s 200-pip bear move, but volatility may spike later with:
Currently, EUR/USD trades at 1.1555, between today’s high of 1.1573 and low of 1.1530.
(Note: The earlier earthquake and tsunami warnings have faded without major damage.)
Technical Outlook
Monday’s large red daily candle created a vacuum in the range, hinting at either a clean follow-through lower or a sharp reversal if buyers step in aggressively.
Support & Resistance Levels for Today
Observation: Today’s range may extend toward 1.1490 or snap back above 1.1573 before the New York open. Caution is advised around potential fake breakouts.
Disclaimer: This is my personal market log, shared for information purposes only. Please trade your own setups and stay disciplined.
Good luck to all of you today – I’ll see you again after the Eurozone data release.
– Avir
)
If price goes above this level, I will buy and I will hold it until price remains above that level.
