After making a strong breakout of the trading range yesterday the Eur/Usd now has a target of 1.4700 which is the new resistance level. The support level is 1.4450 and 1.400
If the target resistance level of .4700 is taken out the target price would be 1.4856 which was hit on September 21, 2008 Which you can see I circled that on the daily chart.
Daily Chart * note clicking on the chart will show you information for a premier charting system.
Watch for a bullish move of of yesterday’s momentum. Keep your eye for a bounce of of the 1.4450 or 1.4400 support levels.
It might be possible to enter long after a bounce off of the support levels or off a bounce off the lower trend ine. If the pair makes a strong upward move past yesterdays high of 1.4531 that might be an entry signal as well.
Latest posts by casey (see all)
- How to find the Right Currency Pair to Match Your Trading Strategy - January 12, 2018
- Using a Forex Checklist to Develop a Good Trading Habit - January 11, 2018
- Forex Trading Strategy Evaluation Methods - December 27, 2017
Winner’s Edge Trading, as seen on: