Not much has changed since last week as EUR/USD closed only 20 pips up from last weeks open. Buyers are again facing resistance from large groups of sellers above last weeks close. These sellers already have a strong history of pushing buyers back from these areas so buyers might be in for some trouble. Here are the resistance areas to watch our for this week.
1.3000-1.3020
1.3130-1.3150
1.3240-1.3260
I will be looking to trade reversals from each of these areas using my trading strategy.
Groups of buyers in the areas above may cause sellers to either stall or completely reverse. I will probably enter buy reversals on these areas if I see the right set up.