EURUSD – Currency Pair Updates Local High

05.08.2024

H4: The currency pair demonstrated strong growth from the reversal level (1/8) towards the main support/resistance level (4/8). From the current positions, we may see the formation of a pullback movement before the start of a new wave of growth towards the main target at the level (4/8). Therefore, despite the local growth, today we consider the scenario with the formation of a downward correction as a priority.

Trading decision: Sell at 1.0960, TP at 1.0864.