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  • 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.

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