EURUSD – Bearish Price Action Below Key Resistance | Mar 5

Verified Profitable Trader

Brand New: Our Advanced Traders Mindset Course is out and have filled 150+ seats in 4 days. Learn to re-wire your brain for successful trading. Click here to learn more.

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.

eurusd

Read our latest article The Three Parts of Your Trading Mind

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article