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EUR/USD

EUR/USD

Thomas Long, Course Instructor

This bias may be nothing more than blind faith, but that is what trend trading is all about. Nobody knows for sure where a market is heading and I am of the opinion that the best traders react to the market's current move instead of trying to predict future moves. But the line in the sand is the 1.4625 level as a move down through that level would be an initial indication of a potential trend change. This also means that this price level offers an excellent protective sell stop level for those who are still buying this pair.

eurusd

I would continue to look for buys, using the 1.4625 level as a potential protective sell stop level. A move down through that price level would mean a reevaluation of the direction of the trend is in order.
 

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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