Casey Stubbs – Winners Edge Trading
4:46 Pm Est
The Eur/Usd is getting ready to challenge the resistance level of 1.3740 which was hit on March 19 2009. There is an ascending triangle chart pattern forming which indicates that we could be ready to break this. This level was challenged again on May 12 but the pair failed to pass through but instead bounced down. The pair is now getting ready make a move on this key resistance level again in the near future.
Watch for a slight pullback as indicated in the chart I posted and then a sharp move to the 1.3740 level. I am going to enter long on a pull back I am looking around the 1.3600 level. I will keep you posted on how the trade works out. If the 1.3740 level gets beaten I have a target of 1.4000.
4hr chart – Click the Chart to learn about our system.
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