EUR/USD testing intra-day resistance
| September 4, 2010 | Posted by admin under Day Trading Ideas, Forex Technicals, Stock Market Analysis, Swing Trading Ideas |
The EUR/USD is pushing at resistance between 1.2900-1.2930 – this level was tested multiple times intra-day between early and mid-August. During the mid-August push higher the highest close remained below 1.2850 therefore this weeks close at 1.2894 indicates buying pressure in this region. A close above the intra-day highs would confirm the strength and could see the rate rally into 1.3200.
Weekly average (14) movement is 322 pips.
Support comes in just below 1.2800 followed by 1.2630 to 1.2600. Resistance is the intra-day highs between 1.2900 and 1.2935. Movement beyond is likely to test resistance just beyond 1.3100 followed by the 1.3200 target.
Chart below.
I have to admit, this is a little weird. It’s a video that reveals a story about the #1 reason why most people lose money trading Forex…and how the “story-teller” himself was ultimately able to help those people make a life-altering “shift” in their trading.
Why do I say it’s “weird”? Maybe because it’s about stuff most people are afraid to admit about themselves & their trading.
Check out this “weird” Forex story here:
http://www.customforextrading.com/y/?i=1083859&u=3&l=f15
As you immerse yourself in the story, see how close it is to YOUR Forex story…(pay close attention)
Happy Trading,
Cory Mitchell, CMT
p.s. Do you think it’s “weird”?
http://www.customforextrading.com/y/?i=1083859&u=3&l=f15
EUR/USD Daily, FreeStockCharts
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