Eur/Usd 1hr Chart Analysis

Hello, Traders I hope you are all doing well. If you have any trading questions please send them to me directly by following me on Twitter. My job is helping to instruct traders so don’t hesitate to contact me.

There is a great weekend setup on the Eur/Usd. We have some resistance on the hourly chart at 1.2800 and a triangle is forming. If the price goes up to resistance and bounces lower look to enter short. Wait for a clear entry signal which would be a bearish engulfing candle off of the bounce off resistance.

Another thing to look for is a break of the upward trendline on the hourly chart. The short term trend will continue to be up until that downward line is broken.

Look at the chart for more information.

Euro Chart Aug28th

Euro Chart Aug28th

The following two tabs change content below.
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.

Winner’s Edge Trading, as seen on:

Winner's Edge Trading in the news