Weekly Price Action Setups & Key Levels | Jan 14 – 19
Chris Capre’s Live Price Action Trades: USDJPY, EURUSD, USDCAD, REMX, FXo EURJPY
NOTE: Did I make money in 2017? Learn more by seeing my verified forex trading results for 2017.
EURUSD – Key S/R Zone Cleared (Daily chart)
After holding for almost 5 months, on Friday the key resistance zone between 1.20-1.21 folded under the bullish pressure and we got a strong daily close above the zone.
Weak breakout pullbacks to this zone can offer potential trade setups for bulls. The closest resistance level comes in at 1.2360, followed by 1.2570.
If the zone fails to hold and price closes back below 1.20, we’re likely looking at a false break setup.
Check back for price action updates in the members commentary.
LTCUSD (Litecoin) – Holding Above MT Key Support (4h chart)
For now, Litecoin is holding above the MT key support level near 200.00-215.00. As long as this support holds it can offer bulls a potential trade setup with the first solid resistance coming in @ 300.00 followed by 380.00.
A break and close below this zone would change my MT bias to bearish with 145.00 being the first support that likely would be targeted by the bears.
Keep up with the members price action commentary for updates.
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