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EURUSD – False Break @ LT Support (Daily chart)
Price Action Context
After pulling back deeper into the wide multi-year support zone from 2015-2016, bulls stepped in with force, pushing price back above the LT resistance we have mentioned in earlier market commentaries, producing a strong false break setup. The first re-test of the LT S/R zone resulted in a solid bullish reaction and bears are now attacking the zone again.
After breaking below the LT key S/R zone, the strong buying, almost equal in strength compared to the preceding selling, pushed price back above the zone, rendering our bias neutral for now. The current pullback into the …... Keep reading