Which are the important levels today? - Forex News by FX Leaders

Which are the important levels today?

Posted Monday, July 4, 2016 by
Skerdian Meta • 1 min read

Alright, here is a new day and a new week. So, which are the levels that we must watch in order to plan our forex strategies and limit our risk? After all, all forex strategies based on whatever indicators should include some support and resistance levels where the chances of a bounce increase. 

Here are the support and resistance levels for the first two pairs with more coming up shortly. 1.1140 is where the 100 smooth moving average stands in the H1 forex chart in EUR/USD. It has provided strong resistance on Thursday and it has done so overnight, that´s why we opened a sell forex signal there a while ago. The first line of support comes at 1.11 where the simple moving average stands on the same timeframe forex chart and below there comes 1.1050 which is a long term support level. 

 

How about GBP/USD? Last Friday´s high at 1.3340-50 is bound to provide some sort of resistance so that´s a level we must watch, because if it´s broken then some sellers might get scared and close their positions which will take this forex pair to 1.35. Support comes at 1.3240s which is last Friday´s low then the bottom from Thursday at 1.32. Stay tuned for more support and resistance levels. 

 

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
The broad-based U.S. dollar is going to end this week on the bearish track as traders continue to cheer the Joe Biden administration's inaug
16 hours ago
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments