Euro USD Intraday Trading Chart Levels
Pivot Points | Daily Support/ Resistance levels | Breakout Trading
After the Euro USD broke out of the larger consolidation on the daily chart last week market approached the high of 2012 yesterday at 1.3486. Market closed at the high of 2012 yesterday and today the Euro broke through it (Breakout Trading/ Timing- see red circle). A similar pattern occured at the monthly R1 (red circle), where the daily candle also closed at the monthly R1 before market broke the monthly R1 with the next daily candle.
Currently, the Euro USD is trading at the monthly R2.
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| Daily - Support/ Resistance |
Today's rise started with a kind of bull flag between 8 a.m. and 9 a.m.. The Euro USD rose to the monthly R2 at 11 a.m. where market temporarily found resistance. Market broke the monthly R2 with the beginning of the new hourly candle at 3 p.m.. The 5 min candle at 3 p.m. closed at the recent daily high and the next 5 min candle broke this resistance (red circle-Breakout Timing). The monthly R2 changed its role from resistance to support and held the market so far.
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| 5 min Euro USD Pivot Points, S/R |
Read the Chart Legend above and the pages: Chart pattern explanation, Chart patterns explained, Chart pattern analysis and Candlestick Chart patterns to get more information about the underlying Chart and Trading Patterns/Signals/Strategies
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