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EUR/USD: Diip buying activity expected from 1.2667 - 2ndSkies

FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, notes that after the EUR/USD short squeeze, the range resistance becomes support at 1.2667 on pullbacks, where bulls are likely to wait to reset longs.

Key Quotes

"The false break setup off support and potential bounce we talked about in the daily members trade setups commentary played out yesterday, with the ensuing price action squeeze we talked about as well."

"Now the range resistance becomes support at 1.2667 on pullbacks, so bulls will likely use this to get long on weak declines."

"Upside resistance comes at 1.2745 and 1.2824 and we may be seeing some serious unwinding of USD longs as the EURO has been the quickest to reach upside ground today."

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