Forex Price Action – EURUSD Starting to Reverse? | Feb 27th

After holding serve at 1.3000 this week, the Euro has been modestly chugging higher. The 4hr chart has been showing an interesting pattern where it slowly accumulates buyers, only to get slammed by the bears as if they were waiting for an opportunity to sell higher.  This has happened now 4x trapping the bulls, with the latest being the most impulsive of the selling.

The pair is now sitting a key role reversal level, but i’m not quite convinced this is the end of the short term bull run. Thus I’ll stick with the downtrend and look for price action signals higher at 1.3300 which was a key resistance level that started the impulsive selling on Monday. 1.3160 is near term resistance while support comes in just above the big figure at 1.3000.

eurusd $eur impulsive price action role reversal level feb 27th

If you want to accelerate your forex trading education, learn rule based systems, get access to the traders forum, lifetime membership & more, visit my Price Action Course page here.

Make sure to check out my newest article You Will Have To Do This Trading

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article