Euro-Dollar Analysis, October 31st 2012 (English Language)

Good morning,

hereunder is you video-analysis for the Euro FX currency futures:

Unfortunately the trading plan sent out yesterday did not help because the Euro started trading in extensions long as soon as the European session started.

Price traded the support area at 1.2960 with a stop below 1.2940 and then it has reache the first target in the 1.3000 area, followed by the second target in the 1.3030 area (with a front-run).

Price continued initially trading in upward extensions on the 15min chart but that sequence failed and a move lower into the half way back for the week started. That was the 1.2960 area which found support and participation even after the European session has ended. This level will be important tomorrow morning at the EU session open.

If the 1.2939 level is defended by bulls tomorrow morning this area is going to offer great trades longs with an upside potential into the 1.3350, 1.3500 and 1.3840 areas.

I took 5 trades today,  4 longs and 1 shorts. 3 trades were completed with profit and two swing longs are still in place with a stop below 1.2939. As usual,I will post additional information on this later on.

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Filed under English language, Euro FX analysis and trade setups videos

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