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EURUSD – False Break Setup + Bounce Leads to PA Squeeze | Oct 8
EURUSD – False Break Bounce + PA Squeeze
The false break setup off support and potential bounce we talked about in the daily members trade setups commentary played out yesterday, with the ensuing price action squeeze we talked about as well.
Now the range resistance becomes support at 1.2667 on pullbacks, so bulls will likely use this to get long on weak declines.
Upside resistance comes at 1.2745 and 1.2824 and we may be seeing some serious unwinding of USD longs as the EURO has been the quickest to reach upside ground today.
In today’s daily members commentary, we also talk about the EURGBP setup, the USDCHF possible structural change, the key support USDCAD is approaching & a potential Gold setup. To learn more about becoming a member, click here.
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