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EURUSD: Key Levels to Watch Next Week 🇪🇺🇺🇸

By VasilyTrader
Updated
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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.

❤️Please, support this idea with like and comment!❤️
Note
Check my new idea on EURCHF:
EURCHF: Important Breakout & Bearish Outlook 🇪🇺🇨🇭
dollareuroEURUSDForexSupply and DemandSupport and ResistanceTechnical AnalysisTrend LinesUSDDJ FXCM Index
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