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  4. EUR/USD break of 1.1130 opens 1.1050 target

EUR/USD break of 1.1130 opens 1.1050 target

May 25, 2016 13:02

The EURUSD broke through 1.1175 level as I showed on Live Session Recap webinar, touching the target. Now, trade should be focused on 1.1140 important support (X - Cross with equidistant lower channel line). Pullbacks towards 1.1250 could be shorted as 1.1250-70 is important cluster of resistance - POC zone (WPP, H3, EMA89, inner trend line). The pair is making a slow grind towards lower levels. If 1.1130 fails, 1.1050 is next. Downside will stay intact as long as POC zone holds. Only if price breaks through 1.1270 we can expect an uptrend with 1.1390 as the target.


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