Hi Guys, hope you enjoyed previous trades of EURUSD and USDJPY, it also went really well.

EURUSD extended to trade bearish in the past week as the US Dollar gained on Fed Chair Yellen Testifies and after the results of US Presidential Elections. The EURUSD traded in a tight trading range of 74 pips, with a high of 1.0642 and a low of 1.0569. Further, the pair lost 31 pips from an opening price of 1.0625 to close at 1.0569.

EUR
• ECB President Draghi Speaks
USD
• No Major Economic Release Expected

Technicals:

EURUSD is yet trading in a bearish range and has met the earlier suggested take profit level of 1.0650. At Present, the pair is trading above the corresponding support level of 1.0573. Although an important resistance is located near 1.0710 and 1.0788, while the support is at 1.0565 and 1.0535.

Support & Resistance Levels

R3: 1.0673
R2: 1.0645
R1: 1.0628
Pivot Point: 1.06
S1: 1.0572
S2: 1.0555
S3: 1.0527

Recommendation
Only Sell Below: 1.0545
Take Profit:
• 1st @ 1.0408
Stop Loss @ 1.0565

EURUSD - Chart

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.