Instrument: EUR/USD (FOREX)
Timeframe: H4
Technical Comment: The currency pair since the start of the Asian session has been trying to recover positions, and the price has now reached a key point. 23.6 Fibonacci, 200 - the average and the diagonal line give us a good opportunity to take short positions at current levels. The price has strong resistance, with the area around 1.12150 limiting the upward movement.
Fundamental commentary: The euro has reacted positively to the news since the European Parliament elections, but quite limited. We see more flat behavior with the currency pair.
Entry: Short position of current levels with STOP LOSS 1.12707.
Alternative Scenario: Bulls are able to accumulate enough momentum to break through the resistance zone, with upward movement continuing to levels around 1.12707. In this situation, our bullish scenario will be spoiled.
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