Casey Stubbs — Winners Edge Trading
8:30 am Est
This morning the news to watch is new home sales. If the number is better than expected we could see a move in the Euro or if the number is worse than expected I think the Dollar could move higher. This is because of risk aversion and traders putting money in the Dollar because it is viewed as a safe haven.
The key support level to watch in this mornings trading is 1.3414 if the pair breaks this we could see more lows.
The nearest resistance is 1.3531 the pair has been moving lower since the highs of last week. This most recent resistance must be broken before we will see more movement to the upside.
10 min chart
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