EURUSD tested a critical level from 2022 today at 1.0839, which could lead to a more substantial move in the coming days.
I’ll have the latest on that in today’s video, including key levels, targets, and a trade I put on earlier today.
Plus, the latest on the US Dollar Index (DXY).
Let’s get started!
[embedyt] https://www.youtube.com/watch?v=uZ0TyXw9g0w[/embedyt]Over the weekend, I mentioned a EURUSD trend line from the 2022 low.
The specific area I mentioned was 1.0830 to 1.0840.
The euro tested that level today with a session high of 1.0839.
However, we haven’t yet seen EURUSD indicate that a significant top is in for the pair.
So, right now, this is a mere retest of a long-running trend line.
That said, the EURUSD is still trending lower, so I have to favor shorting strength until that changes.
The same goes for the DXY, which is holding above the 103.50 to 103.80 support area.
Alternatively, a EURUSD close above this trend line would negate the bearish outlook.
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