EURUSD: Key Levels to Watch Next Week
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.