andrew.berg
Short

EUR/USD breakout failure

FX:EURUSD   Euro Fx/U.S. Dollar
Daily chart still in major uptrend but it is more range bound market, so it makes sence to trade tactically both sides.

After it failed above resistance zone pair established downtrend. Broke below previous low of the day means that sellers are interested in lower prices.
Significant support zone 1.38509-550 where i can take some off from my short position, below that i expect to see some follow through continuation. Will measure price action.

Stops above previous low of the day which today act like resistance at 1.38640ish.
Reagined some levels of support and building nice upper-level base in front of resistance. We can see break up of those highs and expect some upside follow through then.
Entry point: 1.38800
Stop: 1.38680 then 1.38634
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