These are the Key Levels in the Euro for Wednesday
The EUR has broken to the upside, on the back of some bullish news and a weaker than expected USD. I said yesterday that if we pulled above
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Last updated: Wednesday, October 11, 2017
The EUR has broken to the upside, on the back of some bullish news and a weaker than expected USD. I said yesterday that if we pulled above the 1.1800 level the chart will start looking a little more neutral in the short-term. I think that we have to wait out and see what the FOMC minutes will bring as it will likely dictate much about what happens.
When the market is waiting on big news, it’s good to be ready and waiting for opportunities with some key support and resistance levels in mind. It allows you to make quick decisions and get better entries.
My bias is still bearish and I’ll be looking for any spikes to sell at these resistance levels.
Key Support and Resistance Levels
|
Support |
Resistance |
|
1.1700 |
1.1832 |
|
1.1662 |
1.1850 |
|
1.1623 |
1.1932 |
EUR/USD – 240 min Chart.
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ABOUT THE AUTHOR
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
