Overview:

Watch the video for a summary of this week’s news releases, a review of the USD index, and a complete top down analysis of the EURUSD.

EURUSD Monthly:

Monthly support at 1.0879, resistance at 1.1239.

Monthly chart is in a downtrend and has broken last year’s low. Is price now targeting the 1.0879 monthly support level?

EURUSD Weekly:

Weekly support at 1.1018, resistance at 1.1186 and 1.1221.

Weekly chart is in a downtrend showing lower tops and a lower bottom. Price declined last week and closed below the 1.1186 old weekly support level suggesting a further decline this week.

EURUSD Daily:

Daily support at 1.1121, resistance at 1.1272.

Daily chart is in a downtrend showing a lower bottom. Price has rallied back to the 1.1239 monthly resistance level. Waiting to see if price can close back below the 1.1186 old weekly support level before looking for an opportunity to sell on the 4 hour chart.

Looking to sell a rally on the 4 hour chart. Watch the video for a full break down of my analysis on how you could trade this pair to the downside based on the 4 hour chart.

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