All language subtitles for 2. EURUSD Top-Down Support and Resistance Analysis

Hello and welcome to the first video analysis, using the top-down approach. We are looking at forex
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chart of EURUSD and we will put everything we have learned so far in this course into practice.
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As we have studied earlier,
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we start from monthly timeframe to start plotting support and resistance level.
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Guys, I always label my support and resistance level starting from the top of any chart and continue labeling
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as I progress downwards.
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This is the first major level that we see here.
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Remember, the key is to place your line at an obvious support and resistance level and try to get as
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many touches as possible with this line.
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Look how this level acted as support and assistance on EURUSD for 4 times in the past.
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Similarly, I label the next significant support and resistance level here.
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This level was tested five times by EURUSD hence making it an important level to watch out for.
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Now, I want you to study the next support and assistance level carefully.
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This is because not only it is a significant level, but also because it is very close to the recent
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price activity on this pair.
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Once again, notice how this level has been respected multiple times in the past.
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The next level also includes the recent price movement, as you see here.
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Look at the number of touches here as well.
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You would soon notice how I will use this major levels to draw support and resistance zones for taking
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trades within a sideways price movement or to look for breakout entries on daily and
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4-hour timeframes.
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This is the next support and resistance level.
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Do not worry if they look very close on monthly charts, as once we advance to daily and 4-hour timeframes,
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these levels will separate by more than a few hundred pips in price. As long as our support
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and resistance level includes obviously multiple touches.
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I would advise you to include them in your analysis.
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Here we see another multi-year support and resistance, which has many touches.
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I think this is also a clearly visible level, which I missed earlier.
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And finally, this is the last support and assistance level on EURUSD monthly chart.
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Guys, we will now switch to weekly charts, I would advise you to use weekly charts as a confirmation
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to your monthly levels and to see if you need to adjust any levels.
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Otherwise, weekly charts do not carry much significant when there is enough monthly data available.
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The next step is to analyze the recent price action on daily and 4-hour charts.
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This is where I will plot support and resistance zones using these lines that we plotted on weekly and
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monthly timeframe.
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There is no thumb rule to how to draw these zones, but it is advised to keep these zones
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as narrow as possible.
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So using the recent candle tales, I will plot the resistance zone first.
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This zone gives me a price range where I will look to sell this pair once confirmed by volume and price
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action, which I will teach you later in this course.
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In the same way, I will plot the support zone while keeping overlapping candles in focus.
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Guys, I use different colors to help me distinguish between support and resistance zones and for clarity
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in my analysis.
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So, guys, what you have here is possible boundaries where price will move in a sideways direction.
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I will quickly show you the same on 4-hour charts.
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This is all you need to know for the time being, and it concludes the top-down support and resistance
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analysis on EURUSD, go ahead and practice these analysis on your own.
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And I will see you in the next video.