Weekly Forex Price Action Setups | July 14-19

euro price action with trend pin bar 20ema 2ndskiesforex.com

EURUSD – Short Term Bullish Post FOMC
After the FOMC meeting last week, the USD has been taking a beating, particularly against the Euro which has gained over +300 pips since the meeting. Short term we definitely favor to the bullish side as it formed a with trend pin bar setup off the daily 20ema. The pair should retest the 1.3188 where some bears will likely be waiting. For those wanting to get short, this would be the first level I’d consider shorting, targeting 1.3088 and 1.3038. Bulls meanwhile will want to see a corrective pullback into 1.3000, targeting 1.3188 and potentially a return to 1.3375.

GBPUSD – Still Below Dynamic Resistance
Also gaining heavily vs. the USD post FOMC, …

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