EURUSD Rejects @ Key Resistance Level | Dec 12th
EURUSD – Yearly Highs Hold Upside
As we mentioned in our weekly market commentary, we suggested selling near the yearly highs of 1.3820. The pair just recently hit 1.3810 and tried 2x to clear the 1.380 figure, failing today selling off about 70 pips since. Anyone who sold at 1.3800 (or a few pips above) with a 25 pip stop has well over a 2R return, so well done to the savvy price action traders which did. Downside targets are 1.3645 and 1.3600. Any weak pullbacks into 1.3800 could provide additional opportunities to get short. Bulls will need to watch the 3645 and 3600 levels for intra-day price action signals to get long.
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