EUR/USD: Broken below short-term key support

Chris Capre 2ndskiesforex

Price Action Context

After consolidating inside a corrective structure for almost two months, the Euro has broken below a key support zone which was the bottom of the corrective structure.

Trending Analysis

This break changes our short-term bias to bearish and weak pullbacks into the broken support, which now should act as resistance can offer potential shorting opportunities with the closest area of support waiting at 1.1470.

Closest Support & Resistance Zones

Resistance: 1.1700 – 1.1760

Support: 1.14700 – 1.1570

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Author

Chris Capre

2ndskiesforex

Chris Capre is a professional forex trader and mentor specialized in Price Action trading, and the Ichimoku Cloud.

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