EURUSD Price Action – Falls Lower From Intra-day Resistance | Jan 6

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EURUSD – Falls Lower From Intra-day Resistance (1h chart)
Yesterday in the members commentary we talked about selling from resistance, either at the 1.1972 or 1.2045 area short term. As you can see from the chart below, the market pulled really close to that intra-day resistance level within a few pips and then dropped over 115 pips.

Short term we are in a corrective phase and range between 1.1970 and 1.1860, so short term play the range, while look to sell from weak rallies into resistance, including the aforementioned.

Downside targets remain the same from yesterday’s commentary.

eurusd

Also in our members trade setups commentary today, we cover the GBPUSD, USDCAD, Nikkei & WTI. Click here to become a member.

Make sure to read my Message to Traders in 2015 & Trading Like A Sniper: What It Really Means.

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