Trading for a living

Learn the strategies you may need for profiting in Forex with David Aranzabal, full time trader & CEO at FxForaliving

Or subscribe via email:

FXstreet.com Weblogs

Links

Ganarse la vida operando

EUR/USD at a significant level

Posted on March 31, 2009 at 10:53 in Market comments by David Aranzabal

EUR/USD is in an important intraday level. The price can turn around if the price breaks the trendline and keep going downside or the price can reject the ascending trenline and continue the upside move. Watch out for the reaction.

More In trading for a living:

	Gauging the G20’s success
	London opening. Again opportunities for profiting
	Watch the latest session video review in HD (High Definition) !!.

6 Responses to “EUR/USD at a significant level”

on 31 Mar 2009 at 11:29 am1j.j

David hi , so what do you think which way we will see now from this level the upside or the downside pls adv
Regards
on 31 Mar 2009 at 11:45 am2David Aranzabal

Hi J,J
Nice to see you again. At this time 16:38 GMT the price has already broken the trendline so the intraday sentiment is on the downside.
1,3210 is the next support (previous swing low and 61,8% fib. retracement from the previous upleg).
Anyway I don’t usually trade at this time of the day. If you do, you have to consider the stocks closing, because the price can turn around.
Actually the price has just formed a semi doji candle in 5 min. chart and that’s suspicious.
I would stand by till tomorrow’s German Retail Sales and USD ISM Manufacturing because they can move the markets.
Regards.
on 31 Mar 2009 at 11:59 am3j.j

David hi , thanks for the reply i trade daily with no stop
Regards
on 31 Mar 2009 at 12:29 pm4David Aranzabal

Hi j,j
Thanks for your comments.
Trading is a lot of fun, but we need time to rest. After some hours trading our mind loses focus. We have to mix trading with backtesting or learning.
Anyway you can count on me for advising (as long as I’m online).
Thanks.
on 31 Mar 2009 at 1:33 pm5j.j

David many thanks , i wish you the best
Regards
on 31 Mar 2009 at 3:50 pm6David Aranzabal

j,j

It’s a pleasure. I’ll see you tomorrow at the markets opening !!
Regards.

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.