EURUSD Price Action – Breaks First Key Resistance Level | Jan 27

EURUSD – Breaks First Key Resistance Level (1hr chart)
As we suspected and wrote about yesterday in the members commentary, the Euro broke above the key resistance level at 1.1285, making a decent run up to just above 1.14 before pulling back.

I’m still bearish below 1.1445 and 1.1550, so am looking to short at the resistance zone above. ST we have a range between 1.1285 and 1.1445. A break on either side sets the next direction up, but I’m suspecting the Euro will be sold on rallies by institutional players.

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Also in the members commentary today, we cover the EURGBP, AUDUSD, USDJPY, USDCAD & GOLD. Click here to become a member.

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