Eur/Usd 1hr Chart Analysis

Written by on August 28, 2010 28 Comments

Hello, Traders I hope you are all doing well. If you have any trading questions please send them to me directly by following me on Twitter. My job is helping to instruct traders so don’t hesitate to contact me.

There is a great weekend setup on the Eur/Usd. We have some resistance on the hourly chart at 1.2800 and a triangle is forming. If the price goes up to resistance and bounces lower look to enter short. Wait for a clear entry signal which would be a bearish engulfing candle off of the bounce off resistance.

Another thing to look for is a break of the upward trendline on the hourly chart. The short term trend will continue to be up until that downward line is broken.

Look at the chart for more information.

Euro Chart Aug28th

Euro Chart Aug28th

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  • http://honest-reviews.net/?p=183 William667

    Great site!Thanks for sharing!

  • kussy

    i relly but understand stuff about resistance and support

  • Timcameron61

    took my 150 pips total on the nzl and aussie trades…looking for a retrace to go again….don’t like trading against a euro and pound rally……..and light volume going into Labor day……

  • Timcameron61

    good call Casey..might be time to exit…..I have long entries for euro at 1.2770 target 1.30 and 1.5570 for pound, target 1.5750

  • Gc_gagan

    HI! I AM NEW TO FOREX MARKET CAN ANYONE HELP ME HW TO LEARN ABOUT THE USE OF INDICATORS…

  • jose

    why do you obscure the article. it’s hard to read . what is the point. you better not send me this link, it’s a waste of time.

  • Darryl

    Pop ups can be a nuisance, and on a small screen with a real browser (like i$Phone). However the info that we receive from Casey is well thought out and I always welcome it, whether of not I decide to take action. Thank You Casey.
    Other trade ideas could include gbp/cad. Here’s another case of price hitting significant resistance, (see 4h, 1D, Weekly). I couldn’t resist an entry @ 1.6420 with 55 pip stop. T1 is 1.6000, T2 is 1.5400 & T3 @ 1.5550.
    “All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.” — Arthur Schopenhauer

  • Vinomaker

    How does one follow someone on Twitter?

  • Timcameron61

    I went short before fridays close on aussie and Nzl………..

  • Timcameron61

    not sure if you really meant 9700 but the aussie should not clear 9080 in a 1,2 large degree 1,2 smaller degree move…..both aussie and NZL are ahead of euro and pound in wave counts to the downside…..we’ll see…..

  • Nikola

    Take a look on AUDUSD . Quite good chance to short around 0.9700

  • http://www.winnersedgetrading.com caseystubbs

    I am not sure I understand the question Oliver? Do you mean which pair to trade?

    Thanks

    Casey

  • http://www.winnersedgetrading.com caseystubbs

    Thanks for your opinion.

  • Success

    before to learn about forex… you should try to learn about computers, internet, windows etc…

  • http://twitter.com/celtic_mist Robert Best

    There is so much volatility that looking for bearish price action is a waste of time…

  • George

    what they mean Casey is that pop up for signing up, I guess they scroll and miss the close button, though it is quite annoying to us that are already on your mailing list, can it be filtered?

  • Othomson10

    Casey, what Forex Exchange do you use or recommend? Oliver Thomson

  • http://www.winnersedgetrading.com caseystubbs

    Thanks Tim

  • Timcameron61

    I don’t see any junk, but I am looking for this move to reach 38% of the recent move down from above 133..that is 2880 range…then down to a higher low….(above 2600)..I am then in for a target of 1.30…….

  • http://www.winnersedgetrading.com caseystubbs

    I would wait for the pair to bounce off that trend line then consider going long, of course.

    Thanks

  • http://www.winnersedgetrading.com caseystubbs

    I am viewing this and do not see any junk, could someone take a screenshot and send it to me at caseystubbs@winnersedgetrading.com

    Thanks

  • Ppot

    yeeeeeeeeedddddddddddaaaaaaaaaaaa

  • Nolas

    What junk are you guys refering to?

  • http://twitter.com/thomascoolberth Thomas Coolberth

    Yes the pop for that email course makes coming to this site on my IPhone nearly impossible.

    With that out of the way, maybe there will be a failure and then a weak retest of 1.28.

  • iman

    You have to know this is a starting of new up trend that you have to go long.

  • Wilson

    Yes bunch of junk. Probably the onwer of this site should do something about but I what i see is it has been there for so long not fixed. Maybe the owner is not serious on what he/she is doing. Going to unsubscribe from the email list.

  • Paul

    I don’t see the point of all the useful stuff being obscured most of the time!?

  • Deljenson

    Hard to read wih all that junk on top of it. Dej