EUR-USD Technical Analysis 11-19-2013
EUR-USD Technical Analysis
11-19-2013- 11-20-2013
Today I want to discuss some EUR-USD Technical Analysis. Day Trading this pair as of late has been a challenge given the fast spikes with no clear direction. We are now coming close to FOMC, this day along with NFP typically see the largest intraday moves. I have outlined several different key trading strategies as well as key support and resistance levels that I will be looking at going forward the next few trading days.
Here are some key points to remember in our EUR-USD technical analysis. I feel a long as price action stays below 1.3550 I would consider a trade to the long side on this pair. If we stay below this level and break the 1.3500 then I would not be looking for longs and rather I may be seeking shorts. The next impulse wave to the downside has a target of 1.3160.As of right now I prefer sell stop orders below the trend line of the bearish flag and a buy stop above resistance to capitalize on a possible stop run." I have provided extensive eur-usd technical analysis in our live trading room and members section. I must say, at this point I do favor a move lower over a move higher at this point.
Please leave your comments and I will see you in the Trading Room. Be sure to check out more of my videos on youtube and see my tweets on twitter. For more EUR-USD Technicl Analysis please visit our website.
Regards,
Marco Hering, (FT)
Director of Research / Trade Coach
- Posted by fx_Trader
- On November 20, 2013
- 0 Comments
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