EURUSD : Trading Setup For This Week
Saturday, October 22, 2011
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During this weekend , After the meetings and discussions about ( The economy crisis in European countries ) for the European leaders , The conclusion was the following :
1. France and Germany said they would not be able to reach an agreement by then and announced that leaders would meet again on Wednesday .
2. Merkel Said that : breakthrough on Eurozone crisis will be on Wednesday .
How do we trade ( EURUSD ) during the next week :
I think that : what happened will give the dollar some strength next week till Wednesday , Especially that we start on Monday in the Asian markets, which suffer from last week news ( slowdown in China ) , And investors' fear of the situations in the markets .
In technical : EURUSD on 4h-chart shows a perfect double top suggests that some rebound towards 1.3700 area On Monday and Tuesday as a waiting from the investors for the Agreement on Wednesday , and then If there is agreement , I think that will support the euro and gives him a bullish towards 1.41 area with increasing in risk appetite .. see the chart bellow , good luck for all
Ayman Khlifat
1. France and Germany said they would not be able to reach an agreement by then and announced that leaders would meet again on Wednesday .
2. Merkel Said that : breakthrough on Eurozone crisis will be on Wednesday .
How do we trade ( EURUSD ) during the next week :
I think that : what happened will give the dollar some strength next week till Wednesday , Especially that we start on Monday in the Asian markets, which suffer from last week news ( slowdown in China ) , And investors' fear of the situations in the markets .
In technical : EURUSD on 4h-chart shows a perfect double top suggests that some rebound towards 1.3700 area On Monday and Tuesday as a waiting from the investors for the Agreement on Wednesday , and then If there is agreement , I think that will support the euro and gives him a bullish towards 1.41 area with increasing in risk appetite .. see the chart bellow , good luck for all
Ayman Khlifat
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Hi! I found your blog through mine (http://vdmtrading.blogspot.com/) I'm glad I found it! I see you're a technical trader. I prefer a mix of both fundamentals and technicals and it makes it pretty complicated sometimes. I have been following the EUR/USD for a long time, pretty much as long as I can remember trading. According to technical analysis you're dead on. However due to the fact the volatility index (VIX) is still at record high levels for these market circumstances I believe in the mid-term the EUR/USD is actually bound to decline. Tension in Europe's monetary system is causing this. The EUR/USD is an extremely high risk trade at the moment and something I'd like to stay away from. If I HAD to make a choice in the currency markets I'd go with a put option in the FXE ETF trade, Forex being to volatile.
Hi John , thank you very much , i still see the top is not here in this pair , the strong bullish for markets give some advantage to EUR Perhaps for a short time , may the top around 1.41 .
thanks