EUR/USD analysis September 22nd 2013

by Marco Hering

Hello,

Here is my EUR/USD analysis for 9-22-2013. The EUR/USD has not seen any long lasting trends recently. Nevertheless, there are opportunities from time to time to catch a nice move. We managed to get 88 pips on the latest upswing in the pair even though we missed out on the large move on the FOMC statement. News are always unpredictable and I prefer to stand aside until after important announcements. Regardless of the FOMC spike, the pair was in an up trend anyway. EUR/USD broke the Moving Average cluster and made a re-test of the EMAs. Often you will see a turn around point in your charts if that happens. We went long when the pair looked like it would bounce off the EMAs and start an up trend. We closed the trade after the weekend for +88 pips since we expected the pair to retrace and most likely to make an attempt to close the gap. We got only a small retracement back to the former resistance which became support and the pair continued to march higher without closing the gap. For now I look for further long trades on pull backs. In the video I have posted below, you will notice some key areas I am considering for trades. I tried to maje the EUR/US analysis more explicit by putting in a video form.

EUR/USD Analysis Video:

In this video I posted possible long term targets, and more examples of the “EMA break and re-test” strategy in the video. If you enjoyed this video please let me know on facebook and follow me on twitter.  You can also leave comments on this page, please make the comments pertinent to EUR/USD Analysis. For more videos please check out our Live Forex Room Members section.