EURUSD Longs Hit Roadblock
Wed 11th January 2023 : Daily Currency Strength Analysis
In Today’s Video we’re looking at Trading Setups in:
- EURUSD
- GBPCAD
EURUSD Longs Hit Roadblock
In today’s currency strength video we take a look at EURUSD and GBPCAD.
The currency strength meter shows us that EUR is S2 and USD is w2 on the day traders table.
Before considering going long on the EURUSD pair, it’s important to wait until the price has traded above the key resistance at 1.0775.
This level has been a significant point of resistance in the past and breaking above it could indicate a strong bullish move.
It is important to note that the price could be stalling due to the upcoming Consumer Price Index (CPI) data that’s set to be released this afternoon.
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