Weekly Price Action Setups & Key Levels | Jul 3-8
My Current Active Open Trades: EURUSD, EURGBP, AUDUSD (vanilla option), TSLA, EuroStoxx 50, VXZ
NOTE: Monday in the US is the July 4th holiday which means all US banks will be closed and the US session will be super tame. Asia tomorrow should be slow so most of the liquidity will come the following London open.
EURUSD – Long Corrective Pullback, Looking to Sell (1hr chart)
Since the Brexit sell-off, the EURUSD has been in a week long corrective pullback. This price action context suggests the next impulsive leg is down, so I’m looking to sell.
The first resistance level is just ahead around 1.1169 while the next major resistance comes in around 1.1233. I’m remaining bearish while above 1.13 …
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