Thursday, January 27, 2011

EURUSD—at resistance

Euro's overnight low was 1.3637 and that's a support level to watch. The stalling doesn't mean the uptrend is over but a break below that would be significant. To maintain a bullish outlook it needs to break 1.3759/86 and then 1.3860. Since it's hovering around below that resistance, the chances are reasonable that it will make the break.

© 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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