Thursday, July 21, 2005

EUR/USD 7/21/05

7:45 am- Analysis

After yesterday's jump of the Eur, the price has been ranging for most of the EU session. Right now it's hanging around a resistance area along with yesterday's high. As I speak right now, it made a solid breakout candle past yesterday's high but looks like it might be retracing back. I'm not really sure how things are going to turn out today. Greenspan testifies again so who knows what might happen. Although he said rates will keep increasing, his outlook for the US economy wasn't as "positive" as people expected. Anyways, I won't be able to trade again today, but like I always say, wait for a good breakout or bounce. The EUR usually seems to be at a key level when the US session starts, so it's important to get a good directional bias before trading. Good luck everyone! Will keep you posted.

1 comment:

illninho said...

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