Today the Eur/Usd made it to the much anticipated 1.4720 resistance area and slightly higher. The pair faced strong resistance at that point and did not break through. Many traders are on the sidelines right now waiting for news and for a clear direction of which way the pair will go from here. Check the Forex Crunch for the upcoming news in the forex market.
The strong run the Euro has had in the last two weeks has been going strong and there is talk among traders of a retracement as selling may occur.
I personally did not make any trades today I sat on the sidelines because there was no levels that were broken, and my system did not produce any trades.
The current resistance level on the Eur/Usd is 1.4736 and the most recent support is 1.4641. I will looking to place trades on bounces and breaks of those levels.
I learned a valuable trading tip about what one trader does to keep disciplined and stick to his trading plan. Blade Trading via Twitter shared with me that he always writes the word discipline on a piece of paper before making a trade. I think that is a great way to learn discipline and a reminder to stick with the plan.
I want to thank Blade Trading for sharing such a great tip.
