EURUSD Direction
Looking at the monthly chart, it seems that EurUsd is still in a bearish trend. Fundamental analyis is in synched with technical analysis. Our team is looking at 200 ema as support (red line on the chart) around 1.2450. If more bad news comes out of Eurozone and more good news comes out of the US in the following weeks, then the support at 1.2450 will be tested with high probability. If that breaks, then we are projecting that price will reach the 50% fib retracement at 1.2135 which is our next support level. On the upside, we are looking at the 1.3050 (38.2% Fib) level as resistance.
Hi forex dojo. By looking at ur trades in magnet account, it looks like that u r like day trading. But this analysis is on monthly chart and looks like that u r using it for position trading.. Do u have any other account with position trading style?
Eur/Usd is going up again. But I think it will take another dive.
Stick to your rules
Originally posted by uniquetraderEur/Usd is going up again. But I think it will take another dive.
Well... I think it is a short term trend. Coz we cannot see any better change in euro. In a recent article in economist, it is written that even if greece exits, it would create disastrous situation. On the other side Cameron is suggesting to resolve it by hook or by crook.
This pair is just unpredictable and if we want we can start doing practice in demo account and grab some more idea about it and can able to make a good amount of profit through it.
@ bharat23 the whole forex market is just unpredictable but we should need our experience in forex trading to predict the market so that we can take some right decision and be profitable.