EURUSD – Currency Pair in Oversold Territory

17.06.2024

H4: The currency pair has broken the main support level (0/8) and continued to move downward. Currently, the price is testing the level (-1/8). As we do not see a strong reaction to the level, the base scenario considered is the renewal of the local minimum, after which a corrective rebound upwards may occur.

Trading decision: Sell at 1.0760, TP at 1.0660.