Downward pressure continues on the EUR having just made new (recent) lows and nearly reaching 1.3900.  A minor support band is likely from 1.3920-1.3900.  With little support beyond this, a break below 1.3900 will target 1.3800.  Some support may develop at 1.3860 and 1.3830 along the way.

Resistance comes in at 1.3950 followed by 1.3980-1.4000.  A push back up through 1.4000 is likely to test the short-term swing highs at 1.4030 and 1.4050.

~~Get 10 Professional Trading Lessons…. Free! :
http://www.ino.com/info/447/CD3784/&dp=0&l=0&campaignid=6 ~~

Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.

The pair continues to hit new lows, having just dropped below 1.3990 recently.  The outlook continues to be bearish for the EUR overall.

Short term target on the downside, if the pair can once again move below 1.3990 is 1.3940, followed by 1.3920 and 1.3900.  The pair has traded through most of the significant support, and little stands in the way of a move to 1.3800 over the coming days.

Minor resistance comes in just above 1.4050 with more significant resistance at 1.4100-1.4100.  Beyond this 1.4140-1.4150 is a resistance area. 1.4200 is current key resistance for the downtrend.

Did you know that you can quickly get an analysis on almost any financial instrument, in minutes, in your inbox!

Here’s your chance to analyze that stock you have been thinking about adding to your portfolio. Just enter the ticker of any company, name of a commodity, or forex pair and get your complimentary technical analysis. It cost you nothing and and no payment info will ever be requested.

http://www.ino.com/info/114/CD3784/&dp=0&l=0&campaignid=12

Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.

The  EUR/USD (get a longer term analysis via the link) declined to a former swing low on Tuesday, but has so far managed not to drop below the 1.4025 swing level.  A drop below that level indicates another leg down in the downtrend for the EUR.  Support is likely to develop between 1.4015-1.3985 (the wide region here is due to the limit and stop clearing which often occurs around major levels and also well defined stop and limit areas), at 1.3960 and 1.3920.

There is minor resistance at 1.4085.  Further resistance is at 1.4100-1.4110, followed by 1.4130-1.4145, 1.4160 and 1.4180-1.4200.

The outlook for the EUR continues to indicate further declines overall.  A break below 1.4020 would confirm.  Keep in mind the  FOMC Statement is out at 19:15 GMT and traders should adjust their trading accordingly.

~~Get 10 Professional Trading Lessons…. Free! :
http://www.ino.com/info/447/CD3784/&dp=0&l=0&campaignid=6 ~~

Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.

Quiet, relatively flat Monday for the  EUR/USD (get a longer term analysis via the link).  In fact, very little has changed since the last outlook…the levels to watch remain the same going into Tuesday.  Initial support is at 1.4120.  Support beyond is at 1.4100, 1.4085 and 1.4065.  At 1.4030 is the recent swing lows, with a drop below indicating another wave down for the the EUR.

The market has already corrected into the 1.4160-1.4180 region mentioned in prior posts and with that correction having taken place the overall bias is for a further decline in the EUR.    A rise above 1.4230 would challenge that outlook at least for the short-term.  There is a band of resistance which extends from 1.4180-1.4220, and Monday the pair could not get through this – it stalled before 1.4200.  A push above the band, 1.4230, indicates movement into 1.4260, with additional resistance at 1.4280 and 1.4300.

Are you a “newbie” when it comes to Forex?  Are you a little overwhelmed by all the information out there that promises to put piles of cash in your wallet overnight?

Do you have a sneaking suspicion that some Forex brokers are lying through their teeth & simply out to “screw” you so they can add another Mercedes or BMW to their fancy car collection?

Do you feel unable to make any progress toward your dream of quitting your job because no matter how bad you want it, you just can’t afford to pay for $2,000 or more Forex training?

STOP!

I know exactly how you feel, and that’s why I’m glad I found this frank, straightforward, and “no B.S.” video presentation –

–> It leads you to a TON of “dirt cheap” Forex training that will give you the upper hand when dealing with brokers… & a big edge over all the other frustrated & clueless “newbies” out there.

So, sit back, relax, & see if you relate to this “Forex tale” here:

http://www.customforextrading.com/y/?i=1083859&u=3&l=f17

(Make sure you watch the whole thing, because I think you’ll be “floored” by what’s revealed at the end.  The video takes about 30 minutes so if you don’t have time now, save this link and check it out later.)

Happy Trading,
Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.

The EUR/USD (instant analysis of any symbol via the link) has support which sits just above 1.4120.  Support beyond is at 1.4100, 1.4085 and 1.4065.  At 1.4030 is the recent swing lows, with a drop below indicating another wave down for the the EUR.

The market has already corrected into the 1.4160-1.4180 region mentioned in prior posts and with that correction having taken place the overall bias is for a further decline in the EUR.  A rise above 1.4230 would challenge that outlook.  There is a band of resistance which extends from 1.4180-1.4220.  A push above 1.4230 indicates movement into 1.4260, with additional resistance at 1.4280 and 1.4300.

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…

Cory Mitchell, CMT

p.s. Do you think it’s “weird”?

http://www.customforextrading.com/y/?i=1083859&u=3&l=f15

————————————————————————-

~Know your risks when trading. Please read the Legal Disclaimer page.

A more normalized day on Thursday with the EUR/USD stabilizing.  It moved lower in the early session but did recover to only finish down slightly.  The correction mentioned yesterday did occur; a new low was made first and then the EUR moved higher to test resistance which developed at 1.4140.  Now that the correction has taken place, albeit minor, overall the technical outlook for the EUR is weak going into Friday and next week.

A move above 1.4150 would provide evidence that the EUR/USD is not due to go lower quite yet.   The push through 1.4150 is likely to target the resistance of 1.4160-1.4180.  Beyond that there is further resistance at 1.4200-.4220.

On the downside, a move below 1.4050 is likely to test recent lows near 1.4030.  Beyond this support is likely to develop between 1.4015-1.3985, at 1.3960 and 1.3920.

As a reader of this site, I thought you might be interested in the four complimentary videos on Trend TV:

VIDEO 1. Basic Indicators to Analyze Markets

VIDEO 2. Advanced Trading Applications of Candlestick Trading

VIDEO 3. Day Trading Made Simple

VIDEO 4. Using “Differences” to Spot Shifts in Momentum

There is no cost as this is part of an educational program that we thought you would find beneficial. Please click the link below for access to Trend TV:

Watch Now – http://www.ino.com/info/488/CD3784/&dp=0&l=0&campaignid=16

The videos cover a wide range of topics, markets, and ideas, so please take time to watch them.

Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.

Another tough day for the EUR, falling 200 pips at one point against the USD and currently sits just off the lows, trading at 1.4100.

The daily charts show a clear wave down underway which indicates a bias towards a further fall for the EUR. The pair does appear set up for a short-term correction higher, but with really no support under this market it may come after selling into the 1.4050-1.4000 region.

With the pair trading just above lows at 1.4080, a drop below 1.4070 is likely to trigger selling into 1.4055.  Movement through 1.4045 will target 1.4015-1.3985.

A correction higher, if it is to occur, is likely to move into the 1.4160-1.4180 region. A continued rise through this resistance area is likely to target the minor swing highs between 1.4200 and 1.4220.

Below is the top user feedback video ever on this site! The FREE video, or something else on the video site, is really resonating with traders.  I have been posting this video for a week or so now and my inbox is getting flooded with people saying they loved it.  I don’t know how long the video will be available, so if you have not had the chance to check it out I recommend doing so quickly.

Check out this “strange” Forex video here:

http://www.customforextrading.com/y/?i=1083859&u=3&l=f15

Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.

The EUR tumbled Tuesday, and while 1.4320 and 1.4300 briefly supported the fall the pair ultimately  hit a low of close to 1.4250.

The 1.4250 region is a technically a strong support area, but a breach of that support indicates another leg down on the longer term charts.  The pair will need to get through support at 1.4230 and 1.4210.  Breaking through 1.4200 is bearish for the EUR over the long term.  Targets beyond are 1.4175, 1.4150 and 1.4100

As of this writing the pair sits at 1.4272.  A push back above 1.4315 indicates some short-term strength with a target of 1.4335.  Continued rallying above 1.4350 is likely to push through into 1.4360-1.4370.  Resistance is at 1.4380 and 1.4400-1.4410.

~~Get 10 Professional Trading Lessons…. Free! :
http://www.ino.com/info/447/CD3784/&dp=0&l=0&campaignid=6 ~~

Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.

As expected Monday was very quiet with the US holiday in effect.  The EUR/USD ranged within 50 pips through much of the day.  Only just in the last hour did the pair manage to pop above 1.4400.  This is not particularly significant at this point given the light volume and the likely stop hunt of orders sitting just outside this tight range.

A move above 1.4420 would give credence to the upside move with targets of 1.4440 and 1.4460-1.4470.  Beyond this further resistance comes in just below 1.4500 – that resistance area extends from 1.4490-1.4510 with resistance also at 1.4520.

With the pair currently trading at 1.4402 (at the time of this writing) support comes in between 1.4385-1.4375 with additional support along Monday’s ranging lows near 1.4360.  Downward moves below 1.4350 indicate a test of former recent lows 1.4340-1.4330.  Further support is tucked just below this at 1.4320 with a drop below targeting support at 1.4300.

~~Get 10 Professional Trading Lessons…. Free! :
http://www.ino.com/info/447/CD3784/&dp=0&l=0&campaignid=6 ~~

Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.

Yup, it is a holiday for the US so not expecting much for today.  As of right now the pair is sitting just under the resistance level at 1.4380, and that resistance extends to 1.4400.  A break above is likely to target 1.4415-1.4420, beyond that 1.4440-1.4445 followed by 1.4470.

On the downside there is little resistance till 1.4340-1.4330 followed by 1.4300 and 1.4370-1.4360.  Short term there are no real trends apparent as the pair has been “rangey” (a good technical term) since late December.

Keeping it short and sweet.  Have a good long weekend for those who observe  it.

Below is the top user feedback video ever on this site! The FREE video, or something else on the video site, is really resonating with traders.  I have been posting this video for a week or so now and my inbox is getting flooded with people saying they loved it.  I don’t know how long the video will be available, so if you have not had the chance to check it out I recommend doing so quickly.

Check out this “strange” Forex video here:

http://www.customforextrading.com/y/?i=1083859&u=3&l=f15

Cory Mitchell, CMT

~Know your risks when trading. Please read the Legal Disclaimer page.