Strong rally for the the EUR on Monday and the sideways action later in the day has given us some good levels to watch.  1.4400 is current support for the EUR/USD, but support is also apparent right through to 1.4370.  A break below that is likely to target support at 1.4335-1.4325 followed by 1.4300 and then 1.4270-1.4260 if needed.

On the upside, a rise above 1.4430 would give us our first indication of strength and would be confirmed by a rise above Monday’s high of 1.4455.  A break above indicates further strength into 1.4500-1.4510.  This level is old support and will act as new resistance.  Further resistance is expected around 1.4540 and then 1.4575-1.4590.

Forex Nitty Gritty is one of the best forex trading courses around.  It introduces the trader to forex trading and provides ongoing support via daily video updates and value added content.  The course includes all the basics a trader needs to know as well a method of trading the forex market.  Discover how to identify as much “pip potential” as possible in as little as 20 minutes a day.  Plus…you get several free lessons before even getting to the product…and just those free lessons are worth checking out and reading through.

Cory Mitchell, CMT
-Know your risks when trading. Please read the Legal Disclaimer page.