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EUR/USD Key Levels

eurusd-key-levels

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Forex Watchlist – Week of October 30, 2016

This week my focus will be on being long the CHF and short the NZD.

At the time of this posting the USD and JPY are in an area of indecision although a directional bias may develop as the week progresses.

The CAD is weak, but has hit an area of resistance.  Price may become range bound for this currency this week.

Long Currency Bias

CHF and EUR with a strong bias towards CHF

Short Currency Bias

CAD and NZD with a strong bias toward NZD

Forex Pairs Long Bias

  • GBP/NZD
  • GBP/CAD
  • GBP/AUD
  • EUR/NZD
  • EUR/AUD

Forex Pairs Short Bias

  • NZD/USD
  • GBP/CHF
  • USD/CHF
  • NZD/CHF
  • CAD/CHF
  • CAD/JPY
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Forex Trading Outlook – Week of October 16, 2016

The EUR/USD has finally broken out of consolidation to the downside.  However, traders should be careful as there is significant support in the 1.0950 area. Bearish momentum through support could result in price dropping to the next support level of 1.0888.  If price struggles in the 1.0950 area it could be a sign that price is going to reverse upward towards 1.1120

For the upcoming week, traders should look for the USD to move higher and EUR to move lower, but be mindful that nearby USD resistance and EUR support could result in a reversal.

 

 

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Money Management: How To Calculate Your Forex Trading Position Size

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EUR/USD Key Trading Levels Support and Resistance

After trading in a range for the past several weeks, EUR/USD has broken out of the 100-pip range and dropped 200 pips over the past 3 days.  Traders should remain mindful of major resistance level 1.111 and support level 1.0968.  The trend bias is downward, however, price may retrace upward before dropping towards major support.

support and resistance levels
EUR/USD Key Trading Levels October 13, 2016