The Euro continues to dive and make new lows this week. The price bottomed out yesterday at 1.4029 and then hanging in a consolidation range until the pair decides to do a critical breakout in either direction.
There are mixed opinions about the future for the Euro/Usd, some experts are saying that the pair will drop going all the way to 1.24 and others are saying that 1.4000 is the bottom of this temporary move. It can be a long and dauntiing task to figure out the fundamentals. What I understand is trending and momentum and right now the Dollar has all the momentum so I will be looking to sell bounces off of key resistance areas. Read the Forex Crunch blog to keep updated on all the news events that impact the market.
The current support levels to watch is 1.4029 and the resistance levels are 1.4181 There is also a shelf of resistance at the 1.4407 level. The best way to trade is to buy and sell off of the key support and resistance levels.
Look at the 4hr chart below to see the areas the price may stall.
4hr chart *Note click on the link to learn about our premium trading services.
For more great information on the Eur/Usd make sure your read the daily report from the Geek Knows.
Next I want to include this trade analysis video that I made on the Eur/Jpy. Also for those of you that watch my last video setup on the Eur/Gbp I did well gaining +44 pips on the trade.
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