Direct from the desk of Dane Williams,
This is not your average forex broker email.
In today’s daily market analysis on the blog, I wrote about EUR/USD ripping off lows, and then tucking back above higher time frame support/resistance.
While in these emails I like to zoom into the intraday charts and look for retests of short term resistance turned support to buy off, there really isn’t too much here yet.
Price has only just pulled back to test the higher time frame zone itself as support, so we’re still waiting to see if it holds.
In the meantime, I’ll share this little extra on the EUR/USD daily.
EUR/USD Daily 2:
While it’s on the daily, it can still be viewed as a sort of short term resistance zone that we can look to trade off, if it is retested as support.
I don’t normally look for these on the daily, but it’s obvious and there, so I thought I’d share.
Put it on your chart and lets watch the reaction if price gets down to the bottom of the zone and tests it.
If you have any questions about this setup or the simple support/resistance trading strategy that I use, then simply hit reply to this email.
I read and reply to everyone inside my Inner Circle who takes the time to email.
Best of probabilities to you,