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EUR/USD Interesting Position – 15 or 30 Minute Charts
| June 18, 2009 | Posted by admin under Forex - EUR/USD |
The pair just broke minor and a major support
Source: Forexyard EUR/USD 15 Min Chart
~Cory Mitchell, CMT
Chief Market Strategist
Remember, failed breakouts are tradeable too!
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There is another minor support trend line which runs right though 1.3870 which is exactly where the fall stalled.
Now watch the 1.3910-1.3920 level, this area should now provide some resistance. A surge above indicates the break was likely false, at least for the time being.
Failed to push through that level is bearish.