Hello Price Action Traders.
The Eur/Usd forex pair in recent trading sessions shows strong pressure having arrived straight to the key resistance area to 1.3800, repeatedly discussed here on the blog. In the monthly chart the pair shows clearly the false break break with a typical “short” price action.
As you can see, we can look in the coming sessions for some short opportunity and try to sell euros and buy dollars. If we’re going to analyse a chart with daily candles we notice that a good idea would be if the price were to retrace to 1.3640 area. Here it is interesting to look for short trading signals that might have an optimal ratio between risk and reward.
If the price, on the other hand, should continue the decline without doing any pullback might be interesting to wait until the real bearish breakout of 1.3500 area and wait for a return to this area to look for obvious price action trading signals indicating to sell the pair.
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