Here below please find attached the video-analysis of the Euro FX currency futures for today February 13th:
The 1.3360 area traded again today and price came 7 pips from the level. Price then ripped and violated that 1.3451 we have been closely monitoring in the last 2 days. That confirmed the support area at 1.3360 on the 4-hour chart.
We still have resistance above, coming at the 1.3470-80 area, that’s where price reversed yesterday afternoon. That level corresponds to the next traditional short setup on the daily chart. That level also identifies the beginning of an area of resistance that extends all the way up to the 1.3510. I need to see price take the 1.3510 level out by piercing the level on the upside.
If/when that will happen there will be no more resistance above current prices and I think we can start moving swiftly towards the 1.3870 target area that will be confirmed only with price above 1.3580. I think that eventually the 1.3510 level will be taken out because of the strongest and larger timeframe setup at 1.3360.
Price and time will tell. Trade safe.
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