Wednesday 1 August 2012

Charts


EURUSD

Im just looking at this pair and thinking everything about it is technically down at the moment.
You can see Ive marked a potential trend line waiting for validation with a 3rd touch which is also aligning with a proven support level so we should be expecting it to turn resistance and this zone could also be an attraction point especially for the 3rd touch of the line BUT...............
If these levels are broken and when I say broken I dont mean by a few pips I mean a strong break through the level there could be a potential move long for a decent move. I think either way some interesting levels that could provide some trading opps. Will need to see what kind of reaction we get from the major news announcements this week either way hopefully we can get some volatility and some direction for some trading opportunities.

Hope you all have a great trading month!

J

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