EURUSD Price Action – Weak Bounces, Breakout Likely | Jan 13

EURUSD – Weak Bounces, Likely Breakout Soon (1hr chart)
As we’ve been writing in our prior commentaries, the Euro is in a bear trend and selling at resistance has been the suggested way to trade this pair. Today the Euro continues to attack the ST support around 1.1750 with weak bounces off the level, suggesting a likely breakout setup soon.

If the key support level breaks before we get a decent rally to short, then look for a breakout pullback setup. Downside targets are 1.1650 and 1.15, with the potential for a move down to 1.10 and 1.0750.

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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