EURUSD – Bearish Price Action Below Key Resistance | Mar 5
EURUSD – Bearish Price Action Below Resistance (4hr chart)
Another day of losses for the Euro today, briefly taking out the 1.10 barrier before bouncing slightly above it. We are now at 2003 prices, and I’m not seeing the price action nor sentiment change on this pair.
Short Term (ST) there is two key resistance levels which come in at the intra-day high of 1.1112 and the role reversal level parked at 1.1163. Any weak rallies into this support zone are selling opportunities IMO.
Only a daily close above 1.12 negates the bearish momentum ST.
NOTE: NFP is tomorrow, so be sure to close or neutralize all intra-day positions before the announcement.
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