EURUSD 1.25 Resistance Holding

2018年2月18日

What a Friday we had for the EUR/USD currency pair. With buyers taking control all week, the last half of Friday's trading day saw the pair sharply drop over 150 pips forming a very strong bearish daily hammer. This candle was formed right at our 1.25 major monthly resistance and has led me to believe that bears are coming in for the short term. The trade plan for this week is to wait for a test of our 1.25 resistance area before looking to go short to our next support zone at 1.2250. I would not advise taking shorts until/unless the pair comes to test that area.