Weekly Price Action & Technical Analysis Setups | Aug 18-23

weekly market commentary euro range price action 2ndskiesforex

EURUSD – 1.3400 The Current Hurdle
For the third time now the Euro has failed to close above the 1.34 figure in the last 3 months on 3 attempts. The pair last week sold off for 4 days, only to stop on the daily 20ema that we talked about in last weeks technical analysis market commentary, then bounce ~130 pips higher. Short term the range between 1.3190 and 1.3399 is the spoken word. Bulls still have the upper hand, but will need to take out 1.34 to entice more bulls to come in (otherwise the range will take precedence). Bears can look for intraday price action signals to sell at 1.34, while bulls can look towards 1.3190 to get long. …

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