Monday, June 28, 2010


On the weekly chart the pair closed last week with a doji star. At best this indicates uncertainty. If this week closes well into the candle before this star then expect prices to drop. The top of the doji is at .8861 so prices need to get above that level before the pair looks bullish again. If they should do so then the double bottom target of .9040 could be achieved.

Other key price levels to watch right now are the fib levels of .8890 and .8565.

Here's the weekly chart:

© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.

No comments:

Post a Comment