Sunday, June 10, 2007
EUR/USD still looking bearish - More pounding to come from $$
EUR/USD still looking bearish - More pounding to come from $$
The EUR/USD has just now broken a trend support line on daily chart. The ideal way to trade now will be to use your forex trading systems of fibonacci retracements. Identify the next target the USD can go to on the daily chart and then identify the entry and exit points on the 1 hr chart if you do currency swing trading, or 15 min chart if you do the forex day trading.
By looking at the chart, 1.3250 seems to be the next targetwhere the currency pair of EUR/USD may rest. Similarly the GBP/USD is also looking as bearish for the coming week. Alot will depend on the fundamental announcements going tocome next week. There are lots of forex fundamental news on GBP and some on USD that are going to be declared next week. So, watch for their timings before you place a trade.
Thats all in this session...Visit again to learn more on the exciting world of online forex trading.
Labels: EUR/USD, forex day trading, forex Entry, GBP/USD, online forex trading, support and resistance
