• Vasily Trader

EURUSD: Key Levels to Watch Next Week

Hey traders,

Bearish rally continues on EURUSD .

From the beginning of summer the market lost more that 8% of its value.

It looks like bearish sentiment prevails.

Analyzing the structure here are the key levels to watch next week:

The closest strong support area is 1.111 - 12 cluster.

I will expect a pullback from that level.

The next strong support is based on a low of 2020.

1.062 - 1.073 is the area on focus.

The closest resistance is based on a major falling trend line linking the last lower highs.

I will look for trend following opportunities from there.

Wait until one of the key levels is reached and then wait for the confirmation to buy/sell.