Is The Euro Ready To Move?

9:30 pm est

Yesterday I spoke of the Usd/Chf and I said that if the price didn’t break the 1.950 level that I would be looking at the 1.800 area. That was what happened as the price stopped around 1.955 and then it reversed and headed down. I was actually looking for the price to break but it doesn’t matter because I don’t trade on what I think will happen I trade on what the market does so I did not enter long as I was planning on. So I did not make a bad trade because I followed my rules.

So now today since we are challenging the 1.800 level, watch that level and look to sell if we go past that support area. My target is 1.0745.

Usd/Chf 10 Min Chart

On the Euro, look at the 1.4000 level and the 1.4048 level. Those are two key resistance points and I am going to enter long if 1.4000 level gets taken out. So I am going to take these signals and I will report back what happens tomorrow. With a target of 1.4171.

Eur/Usd 10 Min Chart


Also I am looking to short the Yen as the rebound on the 4 hr chart went just past the .500 Fibonacci Extension point. My target on that is 92.56

As always please give me some feedback so I can improve my trading.
4HR Chart Usd/JPY

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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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