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.
The 4-hour chart of the Euraud currency pair is at a nice convergence of resistance. It is currently testing the underside of the trendline, as well an area of previously broken support.
My targets for profit are: 1.3860, and 1.3820. Below this level is weekly support that if breached, could result in a major down move. It is an option to leave a runner on this pair, after having locked in at breakeven. I plan to do this after the first target is achieved. My stop loss is at 1.3957, just above the resistance line.
A great weekend to all, and thanks for reading! 🙂 If you like trading the Audusd, you can yesterday’s article on it here: http://winnersedgetrading.com/audusd-technical-outlook-analysis/
If you are interested in trading this with me, it is a good idea to follow me on twitter, since I am able to give quick updates there, and you will be able to get them instantly.
When trading always use a stop loss and calculate the proper risk management for your account. This analysis aims at providing assistance to the forex trading community here at Winners Edge Trading, thereby helping them to make informed trading decisions.
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