Eur/Usd Testing The 1.2800 Level – What To Expect In Tomorrow’s Trading

The Euro lost strength against the dollar to today and tested the 1.2800 level during today’s New York Trading Session. The positive news that was announced took many traders by surprise as they were expecting the positive news to push the dollar lower because of risk aversion. However, the positive news sent the dollar stronger today.

Trading Levels

If the price of the pair drops below support of 1.2800 we have a target of 1.2700. If 1.2800 is tested and fails to drop and moves past the resistance of the target on the upside is 1.3050. Traders should be watching these levels closely to find good entry points in the upcoming London Trading Session.

S1= 1.2741

S2= 1.2648

S3= 1.2484

R1= 1.2998

R2= 1.3162

R3= 1.3255

Tomorrows News Announcements:

The ECB meets and will discuss the interest rate. The Unemployment Claims for the US will be announced at 8:30. Expect the news to have an impact on tomorrow’s trading, so don’t be caught off guard – watch the news then make your trades.

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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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