EURUSD Trades Above Weekly Resistance: Time To Buy?
Mon 16th January 2023 : Daily Currency Strength Analysis
In Today’s Video we’re looking at Trading Setups in:
- EURUSD
- AUDUSD
- USDJPY
EURUSD Trades Above Weekly Resistance: Time To Long?
In today’s currency strength video we identified the USD is the weakest currency at W1 on both tables.
Most USD pairs are at support and resistance except for EURUSD. The price of this currency pair is trading above the weekly resistance of 1.0775 which were formed in May 2022.
The weekly chart shows that if the trend were to continue we could see the price trade higher towards 1.1150.
Trend traders will be looking for the price to retest the weekly highs of 1.0775 and as long as it remains above these highs they will look for opportunities to the upside.
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