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Finally New Support & Resistance Levels For EUR/USD

So, the French presidential elections are over (first round) and the far right anti-EU candidate Le Penn slipped from first position, which removes one of the big risks for the EU this year.

The Euro surged at the Tokyo open, pulling all Euro pairs with it. We finally have some new support & resistance levels in EUR/USD. So, let´s take a look at these new levels.


Resistance                                                       Support

1 – 1.0840 (mild – 20 SMA on H1 chart)             1 – 1.0880 (mild – the high today)

2 – 1.0820 (mild – the low today)                        2 – 1.0900-10 (strong – the high of the last 5 months)

3 – 1.0800 (strong – 100 SMA on daily chart)      3 – 1.00950 (strong)

4 – 1.0780 (strong)                                           4 – 1.10 (strong)

Support levels are more visible in small timeframe charts

These are the closest support & resistance areas for this forex pair. Some of them (in bold) are stronger than others, which include moving averages or long term levels, so they´re more reliable to trade against.

1.09 is a great place to look for a small sell forex trade. I´m waiting for the price to climb up there in order to open a forex signal.  

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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.
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