EUR/USD key S/R levels for buying and seling

Hello traders, EUR/USD is slowly and gradually inching upwards. Last week our
buy@1.0740 worked perfectly. At the moment, I am seeing a rather interesting
development on the 4H chart.

EUR/USD seems to have broken out of the descending trendline resistance level.
However, note that there is no confirmation of the breakout yet

However, if price does break out in a bullish fashion, the next level would certainly
be 1.0944.

I am avoiding any entries in EURUSD at the moment, as we have CPI data and FOMC
meeting minutes due tomorrow and monetary policy statement from ECB on Thursday.
These events will lead to a lot of volatility and I am looking to take advantage from that.

Kommentar:

A quick 30 Pip bearish move, tomorrow will be exciting

Kommentar:

The resistance level of 1.0875 that I had marked in the chart has held and price fell nearly 30 pips

Kommentar:

Boom, there it goes , huge fall after cpi

Kommentar:

The resistance held, and we are down 100 pips

Trade ist aktiv:

Bought@1.0750, I understand that price could dip to 1.07 as well, which is
why I am being careful

Kommentar:

Currently, the buy is running in loss, I have added another buy at 1.0737. I am fully prepared for the fact that price could dip to 1.07. I will start looking for exit plans, it price breaks the 1.07 zone

Kommentar:

Buys not looking bad, hourly candle turning green, if it could break above 1.0760 before the us session , it would be positive for the bulls

Kommentar:

1.07 is still unbroken, currently holding 3 buys. Let’s see how it goes today

Kommentar:

The buys did not work friends, obviously I wish I held on to my sells from 1.0875