Technical Analysis of the EURUSD Currency Pair; Dec 11, 2022admin 12 December 2022
Last week, the price managed to climb to the level of 1.06067, but failed to break through it. The scenario of continuation of the uptrend to the level of 1.07843 seems likely if this important level is broken.
Important levels next week
In this section we will study the technical levels of currency pairs and important market symbols, the levels whose failure can determine the trend of the market in the next week, and you can use these levels as profit and loss limits in your trades.
EURUSD (Close Price Last week is 1.06067)
(0.98661, 1.01085, 1.03524, 1.06067, 1.07843, 1.9369, 1.11200)
EURUSD Fibonacci Pivot Point Level
These levels are one of the most important tools for traders, created based on market fluctuations and the closing and opening levels of candles in different time frames. The levels that exist in the 4-hour time frame are usually used by traders for daily trades, and there is a possibility of changing them during the coming week due to market fluctuations. Higher time frames are used for longer-term trades, and their change in the next week will require more volatility as well as breaking the previous levels.