vj20_fx

Either Side Major Resistance Break

FX:EURUSD   Euro/U.S. Dollar
60 0 3
EURUSD             is now at a major resistance level as the last time price was at 1.13000 was September 2016. Last week, price tried to retested the zone several times failing to break. NFP data also failed to cause price to break. My outlook however is still overall neutral for this pair as a strong break could happen either way. I am feeling stronger for a downside momentum due to how strong this level has proven to be. A retracement may only occur if price heads to the upside because a retracement has already occurred below the zone. In the case of an upside break, my stop loss will be place just below the zone for safety
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