In the beginning of the week we talked about the potential pullbacks on the major pairs.
Yesterday those pullbacks happened and we can now say where it will possibly end.
EURUSD is trading in a clear downtrend on the H4 and Daily timeframes.
But a part of this trend is a deeper retracement. Exactly what we see right now.
That indicates for a push up to 1,0660 and maybe even higher before the next drop and price eventually breaking below the low at 1,0350.
We don't trade the pullbacks meaning we're not looking to buy but instead, we would rather wait for another selling opportunity.
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