EURUSD
Key Psychological Level:
The 1.08000 level is identified as a significant psychological zone, which is a key area for observing potential market reactions.
London Low:
The "London Low" is marked on the chart, which aligns with the psychological zone. This area is significant as it may act as a support level where buying interest could emerge.
Asia Low Exclusion:
The "Asia Low" is not being considered for this analysis. It was formed while the market was moving upwards, which may classify it as a weaker support level. Therefore, it is not relied upon for strong market signals in this context.
This setup emphasizes the importance of the psychological level and the London session low in analyzing potential market movements and formulating trading strategies. The exclusion of the Asia Low indicates a cautious approach, focusing on more reliable support and resistance levels.
The 1.08000 level is identified as a significant psychological zone, which is a key area for observing potential market reactions.
London Low:
The "London Low" is marked on the chart, which aligns with the psychological zone. This area is significant as it may act as a support level where buying interest could emerge.
Asia Low Exclusion:
The "Asia Low" is not being considered for this analysis. It was formed while the market was moving upwards, which may classify it as a weaker support level. Therefore, it is not relied upon for strong market signals in this context.
This setup emphasizes the importance of the psychological level and the London session low in analyzing potential market movements and formulating trading strategies. The exclusion of the Asia Low indicates a cautious approach, focusing on more reliable support and resistance levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.