EURUSD – Trading at Multi-Year Resistance & How We're Trading It | Jun 28

My Current Active Open Trades: NZDUSD, GBPJPY, AUDNZD, EURGBP, EURNOK, EURPLN, USDMXN, CADMXN, AX_UN, ANZ, BMO, CUF_UN, CSE, SBER, FXo EURJPY, FXo EURPLN

EUR/USD – Trading at Multi-Year Resistance (Weekly chart)
After a strong bullish impulsive move this week the EUR/USD now is trading very close to the major multi-year resistance zone mentioned several times in our prior commentaries.

This resistance zone, which starts around 1.1400, should be a very attractive zone for sellers, along with some bulls taking profit at these values. We therefore think there is a solid probability of a strong reaction off this zone.

In case of a successful rejection from this level, the next support levels and potential targets are coming in at 1.1250 & …

... Keep reading