We looked at the EURUSD a couple of times last week. The first was on Monday when the pair was breaking below the 1.1930 handle, and the second was on Friday during the two-day rebound, that started from 1.1830 one of the levels that we pointed to.
Friday’s commentary focused on whether or not buyers could close the session above 1.1930 or not. The level was a significant factor between November 2017 and January 2018, so Friday’s price action was a crucial moment for buyers.
The reason for not labeling 1.1930 as support or resistance in the chart below is that last week’s final print is too close to call.
That means the EURUSD could go either way this week. However, the uncertainty is nothing a little patience can’t cure. My guess is that we’ll have an answer to whether or not buyers cleared the 1.1930 region within the first 24 hours of this week.
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