Weekly Price Action Setups & Trade Ideas | Aug 4 – Aug 9

XAUUSD_MT_Corrective_Structure_Above_LT_Key_Support

Chris Capre’s current live open price action and ichimoku trades: USDJPY, AUDCAD, SLV, AUS200

New to Forex? Then check out my FREE Learn Forex Trading Course with videos, quizzes and downloadable resources

What is happening in the forex market? Check out my latest video on how this unique volatility environment will affect your forex trading

EURUSD – Broken Below MT Support (Daily chart)

Price Action Context

After bulls got rejected around 1.14 in the end of June sellers re-took control and EURUSD has now broken below a key support zone and produced a new lower low MT, opening up for a likely continuation lower towards 1.09 if bears are able to stay in control.

Trending Analysis

Bias is bearish and …

... Keep reading