There’s debate to avoid trading on Mondays – that price is static and erratic.
Not the Mondays of the weeks past.
We’ve seen a significant move this morning against the US dollar.
USD Sellers have taken back the Thursday losses from the better than forecasted NFP results.
Will USD Sellers hold on to their gains, seek new levels or give it back?
Whatever happens, we expect price to respect these key pivot levels on the currency pairs we are trading this week.
What do you make of them?
Key Price levels this week.
Pivot – 1.1241.
Resistance Levels: 1.1286, 1.1313, 1.1333, 1.1358.
Support Levels: 1.1195, 1.1168, 1.1148, 1.1123
Pivot – 1.2418.
Resistance Levels: 1.2525, 1.2591, 1.2638, 1.2697.
Support levels. 1.2312, 1.2246, 1.2199, 1.2139
Pivot – 120.789.
Resistance levels: 121.315, 121.640, 121.871, 122.165
Support levels: 120.264, 119.939, 119.708, 119.413
Pivot – 1773.86.
Resistance levels: 1786.00, 1793.50, 1798.84, 1805.64.
Support Levels: 1761.72, 1754.22, 1748.88, 1742.08
Key Fundamentals this week.
Monday, July 06
USD – ISM Non-Manufacturing PMI
Wednesday, July 08
EUR – EU Economic Forecasts
USD – Crude Oil Inventories
Thursday, July 09
EUR – Eurogroup Meetings
USD – Unemployment Claims
Friday, July 10
USD – Core PPI m/m
USD – PPI m/m
We have a lean economic calendar.
If there is no unexpected geopolitical news this week, then we expect a clean technical driven trading week.
Just keep an eye on the key price levels.
I will give you my pivot indicator for free if you signup to my newsletter.
With it you can get the key price levels for any instrument you are trading on any MT4 platform.
Till next week.
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