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Eur/Usd trade setup
The pair is looking like a bear flag. The resistance is 1.4029 and the support is 1.3929. I am looking for the pair to challenge the resistance level and break to the downside. I will enter short after the pair tests the 1.4029 resistance level and bounces down. With a target of 1.3929 after that my target to the downside will be 1.3884
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The chart pattern is telling me that the pair is a bear flag and the fundamentals are saying risk aversion is making the Dollar strong right now. There is an excellent article at Forex TV Blog about the fundamentals. So that is the reason for my views, however this is trading so I will not be entering any positions until the market gives me the signals.
If the pair goes past the resistance levels that changes everything and I will re-evaluate at that point.
Follow your rules and trading plan, don't forget sound money management principles.
4 hr Chart Eur/Usd(click to view Chart)
The pair is looking like a bear flag. The resistance is 1.4029 and the support is 1.3929. I am looking for the pair to challenge the resistance level and break to the downside. I will enter short after the pair tests the 1.4029 resistance level and bounces down. With a target of 1.3929 after that my target to the downside will be 1.3884
Want to earn extra pips? Try This
The chart pattern is telling me that the pair is a bear flag and the fundamentals are saying risk aversion is making the Dollar strong right now. There is an excellent article at Forex TV Blog about the fundamentals. So that is the reason for my views, however this is trading so I will not be entering any positions until the market gives me the signals.
If the pair goes past the resistance levels that changes everything and I will re-evaluate at that point.
Follow your rules and trading plan, don't forget sound money management principles.
4 hr Chart Eur/Usd(click to view Chart)
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Disclaimer
Past results are not necessarily indicative of future results. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.
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