This is a technical analysis to note key institutional levels, not a trade recommendation.
Good evening traders!
As noted in our previous EURUSD Update, the 1.0719 is key institutional resistance to watch. A break above will signal buyers are in control and expose further upside.
The 1.0719 figure has been broken and price appears to be sustaining above it.
The figure may not act as support.
Buying opportunities are preferred until proven otherwise.
Institutional resistance to the upside is at 1.0796 and 1.0851 with the latter being the stronger of the two.
Enjoy!
FAQ
What is an institutional level? Put ten traders in a room and instruct them to note key support and resistance levels. No doubt some of them will locate the proper levels, but there will surely be discrepancies among them because finding key support and resistance levels is subjective. Large financial institutions like big banks and hedge funds employ technical analysts to avoid these uncertainties and to justify what specific levels will attract institutional money.
Good evening traders!
As noted in our previous EURUSD Update, the 1.0719 is key institutional resistance to watch. A break above will signal buyers are in control and expose further upside.
The 1.0719 figure has been broken and price appears to be sustaining above it.
The figure may not act as support.
Buying opportunities are preferred until proven otherwise.
Institutional resistance to the upside is at 1.0796 and 1.0851 with the latter being the stronger of the two.
Enjoy!
FAQ
What is an institutional level? Put ten traders in a room and instruct them to note key support and resistance levels. No doubt some of them will locate the proper levels, but there will surely be discrepancies among them because finding key support and resistance levels is subjective. Large financial institutions like big banks and hedge funds employ technical analysts to avoid these uncertainties and to justify what specific levels will attract institutional money.
