There are many things in the world I find baffling not the least of which is why a market almost always moves in the opposite direction of the predicted direction. Can anyone explain?!!?
Trade Setup for the Day: Short EUR/USD (February 25, 2013)
EUR/USD consolidated around the 1.3150 and 1.3200 major and minor psychological support levels at the end of last week and continues to move sideways in that area today. The downtrend on the 1-hour time frame is still intact and suggests a potential continuation of the selloff. Take note that EUR/USD is currently trading below the 1.3300 major psychological support level and bottom of the longer-term trend line. After breaking below this support zone, a reversal of the previous uptrend could be in the works. Stochastic is neither in the oversold or overbought territory though, which means that traders are still undecided where to ... (full story)
- Posted: Feb 25, 2013 3:04am
- Submitted by:Category: Technical AnalysisComments: 57 / Views: 4,872