Weekly Price Action Setups & Trade Ideas | Sep 30 - Oct 5

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Chris Capre’s current live open trades: EURCHF, USDMXN, BIR, TLS

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.

Trending Analysis

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 …

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