Potential Intra-day Price Action Breakout on EURUSD | Sep. 10th

EURUSD – Break and Hold Above 1.3200 Showing Bullish Potential
Although in a medium term range, the EURUSD has been sustaining itself recently above the key 1.3200 level, showing consistent follow through after a breakout structure produced higher prices. Now the pair is pushing up against the 1.3273 level and showing the potential for another intra-day price action breakout.

Notice the several rejections off the inta-day resistance with each rejection getting weaker (sellers being absorbed by the buyers), along with holding above the 20ema after a short move below and quick recovery. Should this intra-day price action breakout setup materialize, then 1.3303 will be under attack next, with a potential follow through move up towards 1.3363. A 4hr close below 1.3200 will likely change short term sentiment to bearish.

intra-day breakout price action eurusd 2ndskiesforex

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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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  • Bill K

    You nailed it again Chris! I took that trade long off the 20ema long for 50 pips at 1.3262 amazing read. Your articles and course are the best!

    • Hello Bill,

      Nice play indeed off the 20ema so well done on that one.

      Kind Regards,
      Chris Capre