EurUsd - Outlook 16.01.2020 | Support & Resistance

Good morning!

Here are the S/R Levels I keep an eye on for Thursday, January 16. These are Price Points where I at least expect some pause and possibly a Reversal. I use these levels to frame a Setup or to exit an Open Position.

My goal is to help you and or give you an extra confidence in your own Trading. Please let me know in the comments what you like in this Chart or what is unclear to you. I will start to give updates and give my view on the Market as well. So if you are curious, don't forget to Like the Idea and or give me a follow ;)

Happy Hunting, Stay Safe!"

Comment:

Nice reaction on the 1.1164 level during London Open today. We now have a double top forming. With the ECB News coming up in the New York Open Session, be cautious.

My feel like these double tops are suspect. I would not be surprised when we get a retracement lower ahead of the news of short after, followed by a run up taking out the double top and resume to a higher level

Comment:

High and Low of the Day was noted as SR levels this morning. For the Bullish Stance it had been better that it was the other way around. In other words: first retrace to 1.1130 and then take out the Equal Highs with a Sweep above. But okay, you can't have it all

Comment:

I'm Backtesting a System to add Entry and Exit Zones to the Chart to give the SR Levels much more added value. Once I'm done, it will add them to Chart every Day. So keep tuned!

As always: Happy Hunting, Stay Safe!