Eur/Usd: Breakout Test Ahead

Feb 27 7:40 AM Est

Casey Stubbs– Winners Edge Trading

The Dollar has been gaining strength in early morning trading breaking below the support of 1.2700 and the current position is showing a bear flag and the pair is approaching the support area of 1.2600

This pair is looking to test the lows made earlier this month and we might possibly see which direction the pair is going to be headed. If the low support levels don’t get broken we could possibly continue the range trading conditions which we are in right now for an extended period of time.

The price action is currently waiting for the Preliminary GDP announcement this morning before we see any strong price movements.

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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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