Monday, August 11, 2014

Weekly Forecast (FX)

for the week starting 11 Aug 2014


Daily Chart bearish sentiment continues.
It has break two support level I quoted, and currently trading around 1.6770.

Dow theory - lower high, lower low.
find opportunity to short, final support at 1.6690.

Trading Plan
Initial Shadow
Short 1.6785
SL 20 pips
TG 60 pips


slight bearish.
Trading at resistance level (4H chart).

I foresee market to trade sideways between 1.3340 - 1.3450.

Breaking above 1.3450 might turn EUR/USD from slight bearish to slight bullish sentiment.
Weekly Chart is suggesting a reversal pattern.


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