The Eur/Usd is in a period where the 1.5000 resistance level has been broken today. The entire world is betting against the Dollar right now. I have not read one positive thing on the Dollar. If there is any good news for the Dollar post the link here I would like to read about it. So with the fundamentals and technical data all pointing to a Dollar fall what do you think would be the way to trade? It appears that the Eur/Usd will be moving upwards but lets not trade until we get signals.
The G20 meetings brought more pressure on the Dollar. The United States government is broke and they are pushing more debt and taxes on the people which will put even more pressure on the Dollar. To learn about more news read Forex Crunch and Yohay never leaves anything out when it comes to covering the news.
4hr Chart *Note Click the chart to learn about a charting system.
We are currently in a channel between 1.5063 and 1.4819 the a little over 100 pips. The support and resistance levels are very clear. 1.5063 is the resistance and 1.4918 is the support. There is also a trend line that is rising since 1.4620 and this line has been tested twice is being tested right now as I right this.
If this current trend line gets broken to the downside than look for support to hold at 1.4019. The current run is towards 1.5000 and if the price breaks that again look to challenge the 1.5063 resistance level and if that price is broken look for more gains in the future.
Read more about the Eur/Usd and a possible Gold Bubble on The Geek Knows.
I want all the readers to be looking for a series of articles by a professional scalper and he is going to reveal his strategy. I am excited about this article and I had let you all know that it was coming. So be ready scalping system coming soon.
Winner’s Edge Trading, as seen on: