Weekly Price Action & Technical Analysis Outlook | Oct 6-11

euro key breakout level resistance price action 2ndskiesforex

EURUSD – Uptrend Intact, But…
After 4 attempts, the Euro finally closed above the key resistance at 1.3550 level, hitting a high of 1.3645 before pulling back strong on Friday. The pullback was strong so small amount of concern for bulls, but for now, its sitting on top of the same 1.3550 level. If this level holds, bulls can look for price action signals to get long here, or on a pullback towards 1.3460-ish. Upside levels are 1.3645 and 1.3700. For the downside, bears will need to close below 1.3450 to attract more sellers into the fore.

GBPJPY – Breaks Down As Suspected
Last Sunday in our weekly commentary we commented how the GBPJPY was showing a price action breakdown …

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