FX.co ★ EUR/USD

EURUSD. Hello everyone. Yesterday’s trading session on the pair turned out to be quite active, especially against the backdrop of news releases. The price got a bit carried away and managed to break through the upper boundary of the option range at 1.14202. The bulls developed this move and pulled the price up to the balance of the current futures contract, which is in the 1.14701–1.14623 range. Just above this level a fresh call level appeared at 1.14850. It’s not worth completely ruling out the possibility of it being reached, but for that the bulls will still have to overcome a number of obstacles. If the bears manage to push the price back below 1.14080, this will be a clear signal that they are ready to continue moving down. In that case, the next target will be the 1.13469 area. A breakout of this level will open the way to deeper targets. The bears have repeatedly added fresh volume on the lower strikes, which clearly indicates their desire to push the price down. However, despite this, the price stubbornly holds within the current range, and so far it manages to avoid a serious decline. The downside targets remain the same. The nearest target is 1.13060, and the main downside target is in the 1.12269 area. The only question is when the bears’ appetite will wake up and they will be able to carry out their plans. The bulls tried to show some activity yesterday and traded options, but these attempts do not change the overall picture. My priority still remains on the sell side, and I see no reason to change the strategy. Good luck.