Eur/Usd: Trade Of The Day

Casey Stubbs — Winners Edge Trading

8:30 am Est

This morning the news to watch is new home sales. If the number is better than expected we could see a move in the Euro or if the number is worse than expected I think the Dollar could move higher. This is because of risk aversion and traders putting money in the Dollar because it is viewed as a safe haven.

The key support level to watch in this mornings trading is 1.3414 if the pair breaks this we could see more lows.

The nearest resistance is 1.3531 the pair has been moving lower since the highs of last week. This most recent resistance must be broken before we will see more movement to the upside.

10 min chart

Click on the chart to learn about our trading system.

The following two tabs change content below.
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.

Winner’s Edge Trading, as seen on:

Winner's Edge Trading in the news