Support & Resistance Levels For EUR/USD - Forex News by Strategia Forex

Support & Resistance Levels For EUR/USD

Posted Tuesday, June 6, 2017 by
Skerdian Meta • 2 min read

EUR/USD has been pushing upward over the last several months. On Friday it made the last assault on the top side, breaking the previous high for 2017.

It looks like the bigger trend is changing, although we have to ignore the previous resistance levels at 115 and then 117 for this to count as a trend reversal.  

This morning, the buyers tried to break yesterday´s high but the rejection was strong. This means that the resistance is in place, so let´s have a look at what´s on the top side and on the bottom side waiting for us.   

                                                 

EUR/USD

Resistance                                                       Support

1 – 1.1285 (strong – the high yesterday)       1 – 1.1230-40 (medium – 100 SMA on H1 chart)

2 – 1.13 (strong)                                                2 – 1.12 (strong – 50 SMA on H4 chart)

3 – 113.30 (mild)                                                3 – 1.1160-70 (strong previous resistance & support)

4 – 113.50-60 (strong – long term res)         4 – 111 (strong)

                                                             

These are the closest support & resistance levels for EUR/USD which will support our trades in this forex pair. Although, buying dips is the safer option right now and we do have two live forex signals here.  

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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.
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