EURUSD: Daily Time Frame Analysis & Key Levels

5 Nov 2020

hey traders,

due to uncertainty with elections, it is quite hard to find a decent trading opportunity.
the instruments are quite volatile and chaotic at the moment so I am waiting until it settles.

On eurusd after a bounce from the current structure low, the price is currently attempting to break above a major falling trend line that served as the resistance.

depending on the reaction of the market on that,
here are the key daily levels to consider:

Support 1 - 1.16 - 1.162 current daily structure low

Resistance 1 - 1.185 - 1.187 last daily lower high
Resistance 2 - 1.195 - 1.20

remember that if daily candle closes above the trend line, if it serve us support.

key levels are used as goals for our trades and as points from where we open them!