Forex Signals – EUR/USD Approaching Resistance

6-18-09

4:46a GMT - As predicted the purple trend line (below) was quickly broken and resistance at the upper trend line was only able to hold for a moment, leading to a retest of 1.4000 (which was never reached). Pair is currently consolidating its gains below 1.4000 and I am expecting another surge to the 1.4020-1.4050 range where I will look to fade. Daily and 4-hour charts are neither oversold or overbought, while 60M charts are mildly overbought.

Trading Idea: Looking to fade a rally to the 1.4020-1.4040 range with short targets preferred down to 1.3965, 1.3935, 1.3855 and eventually 1.3800.

(click to enlarge)
eu61809selling

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  1. Brandon
    June 18, 2009 at 13:04 Reply

    You nailed that prediction spot on!

  2. Ash
    June 20, 2009 at 03:08 Reply

    Hello. I just came across your blog, and your prediction for the EUR/USD pair was very, very accurate. How did you work it out that this would happen so accurately?

    And is there any way we could work it out which way this pair will go, for our selves?

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