Supports and resistances in the# EUR / USD
In the chart of a week we can see several details of importance that can help us to set certain levels.
First, we note that in this tranche, the EUR / USD pair is in the side channel of about 950 pips, between 1.050 + – and 1.1450. Has touched the bottom bracket and seems to want to go to the top resistance
If we go to the daily chart, very interesting for intraday traders, we will observe the following supports and resistances:
Supports: the first one we will have in the 1.0625, that of breaking it we would go to 1,0583.
Resistances: the first one is in 1.0695 and if we break we could reach 1.0751.
However, as we know, both supports and resistances are not absolute, they are zones more than exact values and they usually oscillate between 10 and 20 pips, both positive and negative.
In the accompanying daily chart, we can see those levels marked in red, as well as the negative trend that keeps the pair lately
Let us now enter the timetable, of special interest to all the traders who make intraday or want to plot strategies in the face of possible scalping.
Let’s first of all, the brackets in the time slot: the first in 1.0625 and then the 1.0608 with possible shift to the 1.0583 + -.
For those who work with Fibonacci setbacks, realize that last Friday’s day closed close to 38.2 Fibo at 1.0640.
In dotted sections the mentioned levels are incited. See attached graphic