Weekly Price Action Setups & Key Levels
Second Skies | Dec 08, 2014 01:03AM ET
EURUSD – Breakdown Continues, Looking to Sell (4hr charts)
The Euro has solidly closed below the 1.23 handle on some solid selling to end last week post NFP. For now, we’ll continue to key levels and sell zones are at the role reversal level around 1.2360 and between 1.24/2450. Only a daily close above here mitigates the bearish momentum.
Downside targets are 1.21 and 1.2050
GBPJPY – Breakout Trade Setup Continues to Profit (4hr chart)
pre-breakout price action . Last week that clearly manifested as you can see from the chart below, with the pair taking out the 186 level, now over +300 pips higher.
Those who traded this setup would be in some serious profit at this point, so congrats to the many members who profited nicely .
For now, 190 being a big figure is near term resistance , so I’ll be watching pullbacks into 188.15 and 187.50 for opportunities to get long. Beyond 190 is 191 and 193, so still plenty of upside to trade with the trend.
Also in our members trade setups commentary, we cover the GBPUSD, USDJPY, EURJPY & Nikkei. Click here to become a member.
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