EURUSD – Euro/dollar moves higher after hitting key support
The EURUSD remains range-bound (oscillating) between 1.2140 key support and key resistance up near 1.2540 area. Last week, we were watching for a retrace back to support to be a buyer and we mentioned the near-term level at 1.2250 down to 1.2140 as a potential buy-zone. We can see that price did bounce up from that 1.2250 level last week before pulling back again slightly into the week’s close. Our views this week remain similar; we can look to buy within the support zone from 1.2250 – 1.2140 as the existing overall trend is up. Ideally, we would buy on a clear price action buy signal and we are looking to ride the market up to the upper end of the range near 1.2540.
Nial Fuller is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 17,000+ students since 2008. Checkout Nial's Blog - Learn To Trade The Market.
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