In this post we have mapped out all of the major key levels to watch over the coming weeks for EURUSD.
They comprise of Monthly, Yearly & Structural Major Key Levels essential for price action in EURUSD charts. For any new followers, you are able to use these key levels to guide your trading decisions and watch for how price reacts to them in order to place trades.
Monthly Key Levels:
Monthly key levels are important because they represent longer-term support and resistance levels. These levels are significant because they can provide traders with a better indication of where the market is likely to move next, and may be used as an entry or exit point for a trade. Long-term support and resistance levels can also be used to identify possible reversal areas and to set profit targets.
Structural Key Levels:
Structural key levels are important because they help traders identify potential areas of support and resistance. These areas are important because they provide insight into the underlying strength of a trend and can be used to identify potential entry and exit points. By analyzing these levels, traders can better determine when to enter or exit positions in order to maximize profits. Additionally, these levels can also be used to indicate when a trend is reversing, allowing traders to position themselves accordingly.
Summary
These are all important levels to be aware of when trading EURUSD. Being aware of these levels will help you to identify potential entry and exit points for your trades, as well as identify potential support and resistance levels. Additionally, it is important to remember that these are just a few of the key levels to watch out for, as there are many other levels that will be important to be aware of. Knowing these levels will help you to make informed trading decisions, and ultimately increase your chances of success in the market.
I encourage you to like, follow, and share to stay up-to-date with the latest news and information on this chart throughout the week.
They comprise of Monthly, Yearly & Structural Major Key Levels essential for price action in EURUSD charts. For any new followers, you are able to use these key levels to guide your trading decisions and watch for how price reacts to them in order to place trades.
Monthly Key Levels:
Monthly key levels are important because they represent longer-term support and resistance levels. These levels are significant because they can provide traders with a better indication of where the market is likely to move next, and may be used as an entry or exit point for a trade. Long-term support and resistance levels can also be used to identify possible reversal areas and to set profit targets.
Structural Key Levels:
Structural key levels are important because they help traders identify potential areas of support and resistance. These areas are important because they provide insight into the underlying strength of a trend and can be used to identify potential entry and exit points. By analyzing these levels, traders can better determine when to enter or exit positions in order to maximize profits. Additionally, these levels can also be used to indicate when a trend is reversing, allowing traders to position themselves accordingly.
Summary
These are all important levels to be aware of when trading EURUSD. Being aware of these levels will help you to identify potential entry and exit points for your trades, as well as identify potential support and resistance levels. Additionally, it is important to remember that these are just a few of the key levels to watch out for, as there are many other levels that will be important to be aware of. Knowing these levels will help you to make informed trading decisions, and ultimately increase your chances of success in the market.
I encourage you to like, follow, and share to stay up-to-date with the latest news and information on this chart throughout the week.
Comment:
As we now look on the hourly chart the price action is consolidating around the marked key level of 1.0500 region.
We haven't seen a decisive push in either direction yet to determine the next move.
Theres conflict between timeframes where the higher macro timeframes such as Weekly & Monthly suggest a high probability of a sell off as price hits resistance, while the intraday timeframes such as Hourly & 15minute charts suggest this level could be acting as support.
Traders entering around levels like this where timeframes conflict should be willing to accept higher than average volatility and may need more patience with their trades.
As we now look on the hourly chart the price action is consolidating around the marked key level of 1.0500 region.
We haven't seen a decisive push in either direction yet to determine the next move.
Theres conflict between timeframes where the higher macro timeframes such as Weekly & Monthly suggest a high probability of a sell off as price hits resistance, while the intraday timeframes such as Hourly & 15minute charts suggest this level could be acting as support.
Traders entering around levels like this where timeframes conflict should be willing to accept higher than average volatility and may need more patience with their trades.
Comment:
I am looking at something such as this for the trade opportunity.
Offers 2.7/1 Risk to Reward.
In line with the overall trend.
Market structure supporting the move.
A price move to 1.06850 level would also grab some liquidity for the higher timeframes such as weekly and monthly to still remain valid if their resistance levels hold.
I am looking at something such as this for the trade opportunity.
Offers 2.7/1 Risk to Reward.
In line with the overall trend.
Market structure supporting the move.
A price move to 1.06850 level would also grab some liquidity for the higher timeframes such as weekly and monthly to still remain valid if their resistance levels hold.
Comment:
As previously stated we were looking for price to build a base of support.
This has happened over the past couple trading sessions.
If we can get a 4HR candle closure around this level (approx 1hr) remaining then we can anticipate a bullish leg to come.
This has happened over the past couple trading sessions.
If we can get a 4HR candle closure around this level (approx 1hr) remaining then we can anticipate a bullish leg to come.
At the beginning of the US Trading session EURUSD has approached and rejected our support key levels mapped out earlier