Good morning traders,
Yesterday, as it was expected, EURUSD reached 1.2820 level. Two resistance lines, coloured brown on the chart below, worked well to mark two max levels of 1.2820 and 1.2815.
1.2820 area is widely discussed at the moment. Apart from being local peak level, it's also the point where EURUSD touched hourly descending trendline and 4H 100 MA.
While we stay below it, selling scenario remains actual. I'm selling from 1.2807, SL right above 1.2820. There's a threat though, that market can play with us cheating game and make a false breakout higher first, before the decline. Good point to watch in that case might be watching the closing level on hours' candles.
Commenting on the morning's action EURUSD used blue line as resistance point at 1.2810. The nearest level to break is 1.2785, 15min 100MA.