EUR USD Trading Support/ Resistance
Support/ Resistance | Breakout Trading
After the Euro USD broke out of the larger consolidation pattern on the daily chart last week market approached the high of 2012 yesterday at 1.3486. Market closed at the high of 2012 yesterday and today the Euro broke through it (Breakout Trading/ Timing- see red circle). A similar pattern occurred at the monthly R1 (red circle), where the daily candle also closed at the monthly R1 before market broke the monthly R1 with the next daily candle.
Currently, the Euro USD is trading at the monthly R2.
|Daily - Support/ Resistance|
|5 min Euro USD Pivot Points, S/R|