Euro is basically treading water and going nowhere for now. That won't continue so all one can do is wait for it to break out of this narrow range of 1.2659 to 1.2754. A rally up to a retest of 1.29 level is still possible but longer-term expect that it will resume its drop. No need to post a chart since nothing has changed since yesterday. Resistance is at 1.2755/75, 1.2833, 1.2918/30 and 1.3000. Support is at 1..2674/59, 1.2626, 1.2588 and 1.2523.
© 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.
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