EURUSD: Pulls Back With Caution, Tests Main Support !

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The EURUSD pulled back as suggested today after weak data from the Euro Zone and strong US data, at the moment the pair trades below daily chart support 1.1185.

According to the 4 hour chart, fall from 1.1280 should be contained well by the 1.1156 levels where a rebound is very likely, anyway, we have few options for EURUSD as daily chart and 4 hour chart suggests:

1- A daily close below 1.1185 followed by a 4 hour closing below 1.1156, will build strong pressure on the 1.1117 levels, If seen, a lower leg below 1.1117 may become an option ??!!

2- A rejection from the 1.1156 levels followed by a daily closing back above the 1.1185 levels, will suggest a return to the 1.1235 levels where a break will open 1.1290 next.

Conclusion: The pair around strong demand zone 1.1156/1.1185, will support hold ????!!!!

EURUSD-H4-Sept 30

MARKET DATA

UPCOMING ECONOMIC EVENTS