FX Price Action - EUURUSD Offering Breakout Pullback Setup | Mar. 27th

breakout pullback setup eurusd $eur price action 2ndskiesforex.com mar 27th

Continuing the downtrend as I’ve been stating in my FX market commentary, the Euro has continued to suffer from the Cyprus bail-in and capital controls which has now opened up pandora’s box and a capital flight risk out of the entire EZ. I think this will continue to weigh on traders and investors globally, so will expect continued pressure on the pair.

With yesterday’s consolidation, we now have a short term resistance level (yesterday’s support) to look for a breakout pullback setup now that the 1.2827 support has been broken. ┬áSo watch for price action signals to sell here on corrective rallies, or potential deeper pullbacks towards 1.2884 to sell, targeting 1.2675, and potentially a much deeper move lower …

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