EURUSD was very bullish this week. Preparing for the next week here are the closest key levels that I spotted:
Resistance 1 - 1.9665 - 1.2 supply area It is the closest zone that I would consider for shorting. Let the market reach it & then look for confirmation on intraday timeframes to short.
Support 1 - 1.17 - 1.172 demand area It is the closest zone that I would consider for buying. It is a year's low as well. Look for a confirmation within that zone to buy.
While the price is trading in between, I would stay away from trading EURUSD.
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@VasilyTrader,
Agree with a good support & resistance level.
It is too much risk if you take short or long at the current level, as you stop loss must be wide above resistance level or below support level.
Stay away is also a strategy not to loss money. From weekly and monthly candle, EUR may be back to 1.2200 where is a great opportunity for short.