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The Big Levels for the EUR/USD on Thursday

The Euro has been a little subdued in the last couple of trading sessions, however, Skerdian managed to find a great spot yesterday for a nice win.

I’m waiting for a larger move to the downside and a big break of support that has been holding up. However, we are really just sitting on that level at the moment, which makes an entry tricky. I am much more inclined to wait for a pullback and then get a bigger break.

For those gunning for a short, I like 1.1622, as a good place to start looking. If we get a rally and make any kind of bearish candle, I would be pulling the trigger pretty fast.

As far as other areas of interest these are really the key levels I’m watching. Resistance levels will all be good short entry points, while I would be taking profits at support, or even 1.1600, if we pull back far enough.

 

Key Support and Resistance Levels

Support

Resistance

1.1563

1.1622

1.1555

1.1650

1.1500

1.1690

 
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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.
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