EURUSD : Pulls Back After False-Break of Resistance
EURUSD : Pulls Back After False-Break of Resistance
The EURUSD rotated down from 1.2520 key resistance last week, consolidating into the week’s close. Eurusd market is still in an uptrend overall but we are currently in a period of sideways / trading-range movement where price is oscillating between support and resistance, as seen below. Price is trading above key support near 1.2200 – 1.2160 still and we remain bullish whilst above that support this week. EURUSD, Traders can look for price action buy signals this week within or just above that 1.2200 – 1.2160 zone.
Other Side of EURUSD : As well you can see that eurusd taking support from conflunce area as shown in chartpattern of eurusd here and forming a wedge on h1 time frame so we can buy if eurusd break it up or if it breaks down then we will watch till Key Support Zone for Bullish Price Action.
The EURUSD rotated down from 1.2520 key resistance last week, consolidating into the week’s close. Eurusd market is still in an uptrend overall but we are currently in a period of sideways / trading-range movement where price is oscillating between support and resistance, as seen below. Price is trading above key support near 1.2200 – 1.2160 still and we remain bullish whilst above that support this week. EURUSD, Traders can look for price action buy signals this week within or just above that 1.2200 – 1.2160 zone.
Other Side of EURUSD : As well you can see that eurusd taking support from conflunce area as shown in chartpattern of eurusd here and forming a wedge on h1 time frame so we can buy if eurusd break it up or if it breaks down then we will watch till Key Support Zone for Bullish Price Action.
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