Hi everyone,
Hope you have enjoyed the weekend.
Every week on Sundays, I mark key levels for each currency pair to see how price reacts to them in the next week.
As you see on the charts, I have marked Monthly and Weekly Highs and Lows for the 6 major pairs (actually they are 7 but there was no room for NZADUSD, but you can do that one by yourself as a practice)
Why are these levels important to us?
Because they are kind of support and resistance levels and when price approaches to them, any breakout or rejection on these levels is very important:
(Lows act like support and Highs act like resistance).
So, take a note for yourself and apply them on your chart to have an efficient setup for key levels.
Mn : Monthly (Red Lines) , W: Weekly (Yellow Lines)
I personally expect US dollar gets stronger and we should looking for buying it against the other currencies this week.
Hope you have enjoyed the weekend.
Every week on Sundays, I mark key levels for each currency pair to see how price reacts to them in the next week.
As you see on the charts, I have marked Monthly and Weekly Highs and Lows for the 6 major pairs (actually they are 7 but there was no room for NZADUSD, but you can do that one by yourself as a practice)
Why are these levels important to us?
Because they are kind of support and resistance levels and when price approaches to them, any breakout or rejection on these levels is very important:
(Lows act like support and Highs act like resistance).
So, take a note for yourself and apply them on your chart to have an efficient setup for key levels.
Mn : Monthly (Red Lines) , W: Weekly (Yellow Lines)
I personally expect US dollar gets stronger and we should looking for buying it against the other currencies this week.
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.