EURUSD: Recovering But Vulnerable Short Term.

Forex-big 65985

The EURUSD rebounded from weekly chart support around 1.1867 levels, so far reached 1.1986 levels. According to the 4-hour timeframe, the pair is bullish above 1.1925 levels, resistance comes at 1.1975, the pair already rejected from this level, so this scenario could bring a buying opportunity in the short term, above 1.1975 will test 1.2025 levels.

Anyway, the 4-hour chart suggests a rise to 1.2025 levels before going down, only a clear break above 1.2025 will threat 1.2090 levels…

On the downside, below 1.1925 may bring a lower leg below 1.1837 levels…

Conclusion: The EURUSD continues to face upside threats in the short term forecast above 1.1925 levels with risk to 1.2025 levels, below 1.1925 sees a faal risk to the 1.1837 levels…

Since today is Friday, the market may consolidate above 1.1925 levels before heading to 1.2025 levels…

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