Euro FX futures Analysis & Forecast, August 1st 2013 (English Language)

Hello Traders,

The Euro/Dollar pair started a correction after reaching the 1.3310 target as anticipated in the last report (July 29th).

The next level of support, as per our model of Program Trading on the Euro, will come at around the 1.3170 and two potential scenarios can play out after and if price gets there (please, refer to the below picture):

Euro FX currency futures daily chart, August 1st 2013
Picture: “Euro FX currency futures continuous contract daily timeframe, August 1st 2013”

Scenario 1. Price could get to the 1.3170/75 area and then find a bid into the next projected level of target in the 1.3425 area.

Scenario 2. Price could pierce the support area starting at 1.3170 and finish below the 1.3129 level. Should that happen, the next level of (partial) profit taking would come in the 1.3050 area.

If you want to have  access to trading plans, watch weekly video reviews as I develop or record them, or get information on setups (before they happen) for the Euro-Dollar cross, the S&P500 index and some high volume  stocks, please subscribe my newsletter. It’s free and you get additional content like market commentaries, setups, e-books, articles on HFT and program trading, learning material on my method and video-analysis that I don’t make available on my blog.

Thank you for subscribing should you decide to do so. Lots of other people are doing the same.

If you intend using this information for your trading please do your own due diligence, find the advice of a trading professional and trade at your own responsibility. The information provided is for educational purpose only. Please read the Disclaimer and accept all the risks. Thank you.

Have a good day

Advertisements

Leave a comment

Filed under English language, Euro FX analysis and trade setups videos, Euro FX setups and trades, Futures, Trading Plan

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s