Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. 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 18 years 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.
FX Price Action – EUURUSD Offering Breakout Pullback Setup | Mar. 27th
EURUSD
Continuing the downtrend as I’ve been stating in my FX market commentary, the Euro has continued to suffer from the Cyprus bail-in and capital controls which has now opened up pandora’s box and a capital flight risk out of the entire EZ. I think this will continue to weigh on traders and investors globally, so will expect continued pressure on the pair.
With yesterday’s consolidation, we now have a short term resistance level (yesterday’s support) to look for a breakout pullback setup now that the 1.2827 support has been broken. So watch for price action signals to sell here on corrective rallies, or potential deeper pullbacks towards 1.2884 to sell, targeting 1.2675, and potentially a much deeper move lower towards 1.2375.
If you want to learn rule based systems, get access to the traders forum, lifetime membership & more, visit my Price Action Course page here.
Also make sure to check out my newest article Trading Support and Resistance Key Levels
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.