Eur/Usd: Consolidating, Waiting For A Breakout

The price on the Eur/Usd is in a consolidation pattern waiting for a breakout. The sentiment is that the pair will break the 1.4000 level soon. The pair has been offering some support at the 1.4000 level and has not broken south of that line. However there has not been much strength at all in the pair and the Dollar is strong right now in all verses all the pairs.

Watch the pair break out of the 1.4200 or 1.4000 range for any clear indication about which direction the pair will continue to move from this point forward.

4hr chart *note click on the chart to learn about our premium trading service.

In other technical news the Eur/Jpy broke a key support level that I spoke about in this post. So that is an indication of more downward moves into the coming weeks.

There is an abundance of news coming out which you will want to read about that on Forex Crunch. In addition to that there is a daily Eur/Usd Report that is done by TheGeekKnows and his information can be useful when trading this pair.

Have good trading and leave your comments I like responding to comments.

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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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