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The Eur/Usd has been range trading for a couple of days and that is good for trading as the range has been about 150 pips. That makes it easier to identify the entry and exit points.

Right now the pair is testing the 1.3900 support level and if the pair bounces off that we could see continued range trading. However, I believe that the pair will eventually break to the downside so I am watching the support levels and waiting to get in short for a longer trade.

Watch the 1.3900 level if that breaks the target is 1.3818 for 80 pips. I think we could see more negative news in the coming days which will push the pair past that.

10 min chart:


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Casey Stubbs is the founder of Winners Edge Trading, which is one of the most widely read forex sites on the web. Winners Edge Trading has trained thousands of people to trade the Forex markets.

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