here is your forex strategy for the upcoming week. I hope that you
are all having a great weekend. This is the weekly summary to help you
get an idea of what is going on so that you will be ready to go next
weekend. The end of this week saw the Euro pain start to ease a bit. The
question is will it continue or is this just a small bounce that will
lead to more Euro selling.

If you look at the 4 hour chart you can see that we have bounced off of the bottom and are heading up now. One possible Forex trading strategy would be to not sell until you get a 4 hr candle break below
the upward trendline that I have drawn on this 4 hour chart.


4Hr Chart


4Hr Chart Eur/Usd

When trading this Forex Strategy using a trend line break like this it is important to set a solid stop loss above the trend line in case the trade continues in the current upward direction.

The current support level for this pair is 1.2138 look for this level to either hold when it gets tested next or break down for bigger losses. The next level of resistance for this pair is 1.2600 and then
1.3000 those are key levels that we could see a sharp bounce off of
these areas to the downside.

You can expect to get trading advice such as this everyday when you subscribe to our premium trading service.

Thanks for reading and take glance at the recommendations below.

Other Blogs that are writing about Eur/Usd:

Forex Crunch: Has Forex Strategy and Updates
The GeekKnows-Eur/Usd daily
commentary

One other tool free trading tool I recommend is Currensee where you can see what other traders are doing and learn a style from them.

Views: 44

Comment

You need to be a member of My Forex Space - Online Forex Trading Community to add comments!

Join My Forex Space - Online Forex Trading Community

Featured Brokers

© 2019   Created by Sam Wexler.   Powered by

Badges  |  Report an Issue  |  Terms of Service