EURUSD Price Action – Trying to Clear Key Resistance Level | Jan 19

EURUSD – Attempting to Breakthrough First Resistance Zone (4hr chart)
Continuing from the yearly lows printed on Jan 16th, the Euro is now testing the key resistance level at 1.1645. Medium term I’m still bearish, and I’m guessing there is some profit taking and covering of shorts heading into the ECB meeting this week.

Trading should thus be light till then, but I’ll still look to sell from resistance. Only a daily close above 1.1750+ negates the bearish trend structure short and medium term.

Any massive selling post ECB meeting would mean 1.15 and 1.10 will likely be under attack.

eurusd

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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