Weekly Price Action Setups & Key Levels | Nov 26 – Dec 1
Chris Capre’s Current Price Action Trades: USDCHF, EURCHF, CHFJPY, USDMXN, FTS, TRP, REMX, FXo EURJPY, FXo EURPLN
EURUSD – Key S/R Zone Broken, MT Bias Bullish (4H chart)
Before the market closed last week, the Euro broke through the MT key resistance zone @ ~1.185, changing our MT bias from neutral to bullish.
LT, MT & ST bias are now all bullish IMO. Next resistance levels come in @ 1.20 & 1.27. A break below 1.18 would likely open up for fresh technical selling towards 1.17 once again.
WTI – Prior Resistance Held as Support on Re-Test (weekly chart)
Bulls were able to defend the key support ~55.00 mentioned in our member commentary on our Nov. 4 and crude oil has since rose 7% in the 2 weeks that followed.
Congrats to the course members who profited from this trade setup.
We’re now closing in on 62.00 which is a major LT key resistance for this instrument, and where I expect a lot of bears to defend.
The price action suggests that bulls which are gunning for 62.00 can look for potential buying opportunities around 57.00 and the LT support ~55.00 in case of a deeper pullback.
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