Weekly Price Action & Technical Analysis Setups | Aug 11-16

euro 2 bar reversal dynamic support 20ema 2ndskiesforex

EURUSD – Rejects off Key Level
The Euro rejected off a key level and 3 month high to end last week, forming a 2 bar reversal. It should be noted the 2 Bar Reversal in this case is simple a 2 day range for intraday traders to watch. Price is sitting just above short term support around 1.3312. It will need to break through this before see more downside. The next level below would be the dynamic support and daily 20ema which hasn’t been closed below since July 11th. Bulls can look to get long on pullbacks into the 20ema, while bears can look for an LH (lower high) at 3400, targeting 3313 and the 20ema.

EURJPY -Structurally Rolling Over

... Keep reading