Comfortable Friyay, errbody!

If you happen to haven’t gotten sufficient of dollar-related trades this week, then you definitely’ll undoubtedly need to watch EUR/USD for a doable bounce!

Right here’s what I’m seeing on the 4-hour time-frame:

EUR/USD 4-hour Foreign exchange Chart by TV

As you’ll be able to see, EUR/USD is having hassle making new highs above 1.1000 after beginning an uptrend from the 1.0650 ranges.

Thankfully for EUR bulls, EUR/USD has additionally discovered assist someplace alongside the 1.0870 space.

And why not? The extent marks the 38.2% Fibonacci degree of June’s upswing AND is close to the 100 SMA on the 4-hour time-frame.

The bullish divergence on the chart doesn’t harm both.

Will EUR/USD see one other bounce from the inflection level?

EUR bulls can begin scaling at present ranges and intention for earlier highs like 1.0970 or 1.1000 to catch respectable strikes.

Suppose EUR/USD is definitely on its means down as a substitute?

It’s also possible to anticipate a transparent break beneath the 1.0850 assist zone earlier than you’ll be able to goal areas of curiosity like 1.0800 or 1.0750 relying on the bearish momentum.

What do you suppose? Which means will EUR/USD go?