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  #853 (permalink)

London, England
Trading Experience: Intermediate
Platform: Ninja
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: EUR
Trafford's Avatar
Posts: 337 since Sep 2010
Thanks: 379 given, 229 received

Euro Daily and Weekly Analysis

This is my weekly and daily reflection for Euro trading next week.

Market has been in a weekly one time-frame down move for sometime. This appears to have ended. Two sided trading around the 1.2600 area which was a key fib number if you watch fibs, resulted in market finding value for longer term traders whom were able to push prices above previous weeks highs.The prior weekly highs are now the upside targets for the bulls who are hoping for the shorts to provide the fuel so the expectation is for some days in the the Euro to go ballistic as longer term shorts cover their positions. This will be further contrasted by lack of real selling until market reaches a key resistance level.

Make a good trading week

Attached Thumbnails
EURUSD 6E Euro-euro_weekly.png   EURUSD 6E Euro-eu_daily.png  

Last edited by Trafford; January 29th, 2012 at 07:33 AM. Reason: Error
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