EURUSD – Trend Structure Holding, But Weakening
Last week we wrote about the critical 1.3550 level for the upside on the Euro. It closed last week forming a pin bar off the 1.3550 level, however today it has gap’d above the level. Although the daily 20ema dynamic support has held, the fact that price action broke above 1.3550, then back below it suggests the trend is weakening. I’ll look for a LH (lower high) or same high at 1.3645 to short off a price action signal. For bulls, they’ll want a daily close above 1.3645 to demonstrate they still have control of the trend.
GBPJPY – Pin Bar Reversal Leads to Break Above Key Level
During last week, we suggesting …