Euro Weekly Moving Toward Support

The Euro was a major bearish mover this week, but could be coming into solid support soon:

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NathanTucci

Nathan Tucci has been with Winner's Edge since 2011 as a writer and trader. He specializes in strategy development and enhancement and loves to share what he learns from testing, research and real world experience.
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  • Paul

    Hi Nathan

    Many thanks for another great analysis

    I think your logic for the EUR USD is spot on. 1.32 00 to 1.33 00 is a fantastic zone of confluence which may offer support for the next ‘up leg’ on this pair

    I am waiting patiently to see if it will indeed drop that far and if so, I will then need to see a ‘trade-able’ candle formation to provide an order entry ‘trigger

    I have also been taken out of the AUD JPY long, on my trailing stop. So similar to the EUR USD I am patiently waiting for price to fall to 94.00 and then will be watching closely for candle formation (price action) to facilitate any opportunity to get back into this pair

  • http://www.winnersedgetrading.com caseystubbs

    Yes that is a good observation. It will be interesting to see how that works out. I wonder how long the eurusd can go up while the GbpUsd goes down.

  • http://www.winnersedgetrading.com caseystubbs

    Thanks I agree patience is a critical for the trader to have success.

  • Aschraf

    Wonderdull analysis and a great Disziplin: BE PATIENT. This is exactly the thing what we need for profitable trading business.

  • LOU

    GOOD IDEAS

  • trader1

    what do you mean you got out of the GBP/USD trade at break even… I am with your IC system and you are showing you are still in the trade with a 107 pip, 1.15% loss currently…

  • Cazzie

    Hi Nathan.
    GBPUSD Prices broke multi-year trend line support set from January 2009, hinting a major bearish reversal in progress at 1.56614. daily Chart. Has now bounced. Will wait and see what happens.