EURUSD Long or Short? – D1 Price Action – Market Commentary

Hello everyone!  I hope you are having a great week!  I am taking a look at the EURUSD on the daily timeframe today.

It is currently in what appears to be a triple bottom.  If price breaks above the WK1 resistance, then we should see a Trend Reversal.

If price breaks below the MN1 support, then we may see a continuation of price.

eurusd market commentary 3-24-2017

Here are my thoughts:

Long entry if we see a break to the upside of 1.08237

Short entry if we see a break to the downside of 1.050523

So, where will price go once we see a break?

Upon a break of the two levels provided, we may see the following price movement:

Long – 1.091144

Short – 1.042561

Now remember, this is the daily chart we are looking at.  What does this mean?

Each candle is one day in duration

The chart above shows all the way back to January 2016

This would be a long term trade

Cheers to success and see you all in the room!

Receive Our New FREE 5 Part E-Course!

Get on the list for premium content directly to your inbox

I agree to have my personal information transfered to AWeber ( more information )

I will never give away, trade or sell your email address. You can unsubscribe at any time.