10:15 AM (EST) Update
EUR/USD 4 Hour: Reached our first bullish target at 1.0730
Suggested positioning: Long Positions above 1.0676 with 1.0730 and 1.0809 as targets
Technical reasons: The pair reached and surpassed the 23% Fibonacci level and currently testing the lower band of Ichimoku cloud with the RSI above the neutrality area.
Alternative Scenario: Below 1.0676 look for further drops back to support levels at 1.0550 and 1.0470.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.0550 | 1.0655 | 1.0720 |
| 1.0470 | 1.0780 |
