orvilleawright
Short

EURUSD Price structure analysis (1H)

FX:EURUSD   Euro / U.S. Dollar
EURUSD             Price structure analysis (1H). Price has broken through the resistance zone like it was not there. That zone now becomes support. Price is now at the 78.6 fib retracement and slightly above the 127 inversion. It is also in a zone of previous congestion. At these levels I expect some profit taking and a retracement to wards the support zone . I expect the buyers to step back in and take prices higher. Look for bear traps at the lows to go higher. Note that the down trend line has been broken. The reverse size of the trend line should now act as support. I prefer to sell into bull traps at the highs. Wait for price action to confirm the reversal.
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