Hello Traders. Today we have 5 key news items that will impact the Dollar in today’s trading. Keep a look at these key news items and be ready for them because the news could move the Eur/Usd if the report is far from expectations.
The Dollar gained during the European trading session and has bottomed out as the Friday New York session is beginning. The Dollar has gained strength despite a series of negative economic news reports. The pair has broken the key support of 1.4450 to drop to 1.4368. The new resistance level is the 1.4450 support area that was broken yesterday. The next key support level to watch is the 1.4262 which was tested twice in the month of January.
4hr Chart *note click the chart to learn about our premium trading service.
The way to trade this is to continue to find support and resistance points and enter the pair at appropriate levels.
For additional information read Forex Crunch a great source of Forex News.
Latest posts by casey (see all)
- Using a Forex Checklist to Develop a Good Trading Habit - September 25, 2017
- Learn why using a 2:1 Risk to Reward Ratio can increase profits - September 19, 2017
- My Personal Trading Plan Reviewed by Trading Expert Kim Krompass - August 4, 2017
Winner’s Edge Trading, as seen on: