In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we will be taking a strong look at the EURUSD with the Euro at the 1.1300 level.
EUR
The Euro has been weak recently and the US Dollar has been strong, which make this the perfect match. The level that we are watching closely is the 1.1300. If you look at this on a daily or weekly chart, you will see that it is a very significant final level with nothing but air beneath. So, any confirmed break below 1.1300 would constitute a strong sell trade.
Oil
The other equally significant level to look out for is in the US Oil market. This market has, again, been pulling back significantly off its recent highs around the $77 level. So, if you look at this on a daily or weekly timeframe, you will see significant support around the 65.50 level with nothing but air beneath also.
These are the two markets that we will be taking a strong look at for the day.
Euro at the 1.1300 Level – Full Video Analysis
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