Sophia Todorova has a background in teaching and psychology, and as such relishes the idea of assisting new traders on their journey to Forex trading success. Technical Analysis is her passion. The charts speak, and she listens.
1.3680 represents significant weekly support for the Eurusd. Yesterday’s candle closed in an impressive manner, as it succumbed to resistance and closed firmly below the mentioned support. The pair is at a critical area at this point, after finding additional support at 1.3570s The weekly close could provide the answer as to whether it will be able to hold below the broken resistance and move towards 1.3360, or if it will move back inside the weekly trading range. Only time will be able to provide the answer. I will be looking out for confirmation as to further direction in the form of reversal patterns at the current levels. Please refer to the chart posted below for further reference.
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The Usdjpy is worth watching also. See my recent post on that pair here: http://winnersedgetrading.com/usdjpytechnical-analysis-trading-strategy/
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