EURUSD Analysis and trading outlook for the week,
Taking a quick look at the weekly I have highlighted areas that I believe are offering strong support/resistance that we need to be aware of.
Moving down to the daily I have added an additional level to be aware of, which seems to be acting as intraday support/resistance, but is nowhere near as strong as the previously mentioned levels I pointed out on the weekly
As seen on the 1H chart, trading was pretty weak and ranging at the end of the week due to the pending holiday in the US Monday (Labour day) and that is likely to continue for the weeks open.
What IS interesting is that price seems to have parked itself JUST below that minor SR level I mentioned earlier. My plan for this week is to watch for a break to the north or a bear trend to develop and get in on it and ride it to the top or bottom of the range I have shown on the weeklies.
Moving down to the daily I have added an additional level to be aware of, which seems to be acting as intraday support/resistance, but is nowhere near as strong as the previously mentioned levels I pointed out on the weekly
As seen on the 1H chart, trading was pretty weak and ranging at the end of the week due to the pending holiday in the US Monday (Labour day) and that is likely to continue for the weeks open.
What IS interesting is that price seems to have parked itself JUST below that minor SR level I mentioned earlier. My plan for this week is to watch for a break to the north or a bear trend to develop and get in on it and ride it to the top or bottom of the range I have shown on the weeklies.
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