EUR/USD Touches to the Pip and Immediately Rejects Off Resistance From 2015 | Vantage FX

EUR/USD Touches to the Pip and Immediately Rejects Off Resistance From 2015

July 26, 2017

Good morning traders,

Back today with a follow up to Monday’s EUR/USD already reaches top of daily range blog.

Take this little extract:

…to now sit just 30 pips away from the daily range top.

Well, it looks like those 30 pips made all the difference in the end:

EUR/USD Hourly:

Click on chart to see a larger view.

As you can see on the EUR/USD hourly chart above, price couldn’t help itself and ripped that extra 30 pips to touch daily resistance TO THE PIP.

Yes, this is a daily resistance level drawn from the exact point that price rejected off two years ago.

Come on, tell me that’s not pretty cool!

If you now believe that this touch and rejection is confirmation of sellers, you can really start to look for short term strength to possibly sell into.

Best of probabilities to you!

Dane Williams – @VantageFX

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