EURUSD – Sell Setup At Key Resistance Zone Profits | Mar 26
EURUSD – Sell Setup Profits Second Time (4hr charts)
A few days ago in the members commentary, we talked about selling in the key resistance zone between 1.10 and 1.11. Initially the pair did this, dropping over 120 pips offering a solid profit.
The pair pulled right back into this key resistance zone again and has sold off heavily since, this time dropping another 160 pips since then, offering a great risk:reward trade.
For now, bears have our lines in the sand so as long as this level holds, the medium/long term bear trend is still in place. Those traders already short should lock in some profit and neutralize the risk. A further push below 1.08 will help with further losses and a push towards 1.0630 which is the key support zone for bulls.
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