FX Price Action – EURUSD Channel Still in Play | Mar. 14th

After pulling back consistently anywhere between 140-160 pips before selling off massively, the EURUSD has been stuck in a structured channel as of late which is still sloping downwards. Although this communicates the selling for now is a little tired, it rarely marks the end of a downtrend until we see a counter trend impulsive price action move which should take out a major swing high (i.e. around 1.3150).

Thus, i’ll look to sell the pair on moves back into 1.3100 and 1.3150, for an eventual retest of 1.2900. A break back above 1.3150 would likely push the pair to test 1.3300, but selling is preferred for now, as for the month of March, only one bull day has been followed up with another bull close.

eurusd channel price action $eur 2ndskiesforex.com mar 14th

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 Price Action, Breakouts & Order Flow

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