The Monday plunge through 1.1048 signalled a shift to a broader range environment, which we see as intact.
The subsequent rebound to close the bear gap, then to slide back lower and bounce Thursday leaves a modest upside bias for Friday.
We see a modest upside bias for 1.1110; break here aims for 1.1171.
But below 1.1030 opens risk down to 1.0983, maybe 1.0951, which we would look to try to hold.
Short/ Intermediate-term Range Parameters: We see the broader range defined by 1.1436 and 1.0819.
Range Breakout Challenge
Upside: Above 1.1436 aims higher for 1.1467, 1.1534 and 1.1680.
Downside: Below 1.0819 sees risk lower for 1.0658, 1.0520 and 1.0459.
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2 Hour EURUSD Chart
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