EURUSD – Price Pushes Higher From Breakout
On Tuesday’s market commentary, we opined how on the 1hr charts the Euro was forming an intraday breakout setup suggesting higher prices. The pair several hours later formed another HL (higher low) and then broke above the 1.3273 level, climbing over 50 pips from the key level. Many of our members in the traders forum also profited from this move with many capturing over 50+ pips on less than a 15 pip stop, so hopefully you profited from that move.
As you can see on the daily chart, the pair pulled back towards the 20ema, then bounced off it forming a with trend pin bar, suggesting higher prices should it clear the 1.3325 highs. Short term 1.3250 is support, so traders not long can look for intraday corrective pullbacks here, targeting 1.3325 and potentially a move higher to 1.3360 and 1.3393. A break and close below 1.3225 suggests short term bearishness.
Original post
On Tuesday’s market commentary, we opined how on the 1hr charts the Euro was forming an intraday breakout setup suggesting higher prices. The pair several hours later formed another HL (higher low) and then broke above the 1.3273 level, climbing over 50 pips from the key level. Many of our members in the traders forum also profited from this move with many capturing over 50+ pips on less than a 15 pip stop, so hopefully you profited from that move.
As you can see on the daily chart, the pair pulled back towards the 20ema, then bounced off it forming a with trend pin bar, suggesting higher prices should it clear the 1.3325 highs. Short term 1.3250 is support, so traders not long can look for intraday corrective pullbacks here, targeting 1.3325 and potentially a move higher to 1.3360 and 1.3393. A break and close below 1.3225 suggests short term bearishness.
Original post