Eur/Usd: Weekly Trade Update

The Eur/Usd passed the important resistance level last week which is a major bullish indicator and the next target is 1.4835 which was the price on September 21, 2008.

However we have had two straight weeks of moving straight up and it is time for a pull back to happen this week.

The most recent support level has been at 1.4650 and 1.14515. In addition to support and resistance levels we can look at the 4Hr chart and see the Fibonacci retracement levels to watch if there is a pullback.

The first level on Fibonacci retracement is .382 and the price level there is 1.543. That is a place we need to be watching

4Hr Chart *Note Click the chart to learn a Forex System.

There are mixed views in the trading community about where we go from here you have to be a smart trader follow your plan and you should do fine.

Here is a great short outlook by Erik Kanters.

Also another short outlook written by the Geek.

This is a bullish report by FXTechstrategy

I only made two trades last week for +110 pips not a great week but I will take it. I will be keeping everyone updated on trading performance for this week as well.

Let us know how you are trading this week we want to know. Post your plans strategies as well as your results, it helps us all be better traders.

Thanks Casey

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