EURUSD Price Action – Breaks Multi-Year Support | Mar 4

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EURUSD – Breaks Multi-Year Support, Bearish Bias (4hr chart)
Losing some serious ground today, the Euro broke through the multi-year support level of 1.11 closing below in on a daily basis for the first time in years. This is a very bearish event, so am only looking to sell now.

For me the key pullback levels to sell are 1.1142 and 1.1235 to get short. Only a daily close above the latter would change the bearish momentum ST. Downside I’m suspecting an attack on 1.0850 will be the first stopping point for bears, so lots of potential downside available.


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