I hope all of your trading has been profitable lately. If it has not, please comment in the box below and I will get back to you. I am a trading coach and besides technical analysis there is the strategy, money management and proper trading mindset. I understand the pain and discomfort caused by losing income in your trading and the mental roadblocks that can cause losses in your trading.
Today the pair was trading in a smaller range than yesterday so the way that I took profit out of this pair was to buy the bottoms and sell the tops. It worked out quite nicely using the 5 min charts. When the market is not trending in strong direction, you can still get profits by using channel trading.
The Eur/Usd has a support level of 1.3450 the current channel on pair is moving down bouncing off of the trend wall and heading down. Look for this pattern to continue until the trend wall gets broken.
4Hr Chart *Note click the chart to learn about our Premium Trading Room.
One other thing to note I hope that you found our last free call beneficial, our trading room moderator Michael Storm made a great call on the Gbp/Jpy that if you took advantage of you made about 200 pips.
Tomorrow is the last day of trading and there will be some big news announcements regarding several of the major currency pairs. The news includes 5 major news releases on the U.S. Dollar. Read about all the upcoming news by reading Forex Crunch.
We have had a lot of price movement during this week and I think the last day will be a big one so be ready and use your stops and practice sound money management.
To read another analysis on the Eur/Usd read the Geek Knows
Winner’s Edge Trading, as seen on: