EUR/USD Retests Daily Zone as Support

in LeoFinance •  19 days ago 

Direct from the desk of Dane Williams.




Remember when EUR/USD ripped higher through resistance and gave us the +150 pip gimme?

Price went vertical, all the way up to previous swing high resistance on the daily and in true pandemic trading fashion, was immediately rejected down just as hard.

Take a look at the daily chart below:

EUR/USD Daily:

What I wanted to highlight is the fact that price has returned to the higher time frame zone that we were previously using to long when price went through it.

Now zoom into an hourly chart and if you still have the short term resistance that we used as support to enter off, then watch how price reacts to it again.

Hope you didn't clean up your charts quite yet!

Best of probabilities to you,

Dane.




FOREX BROKR | Hive Blog
Higher time frame market analysis.

Posted Using LeoFinance

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!