EUR/USD Analysis & Forecast, September 6th 2013 (English Language)

Hello Traders,

The EUR/USD pair has bounced right at the 1.3110 area indicated in yesterday’s video provided in my Newsletter (if you are not a subscriber yet, subscribe here for free). Those who follow me know that the longer term target is at the 1.4100 area.

The Euro did not continue trading in extension, as it would naturally do (go back and study past years’ price action), but a lot of events are going on (i.e. war winds in Syria, FED to tamper or not quantitative easing, etc.). We could now see two potential scenarios unforl, with the 1st scenario being the most probable (see below picture):

EUR/USD daily timeframe September 6th 2013

EUR/USD daily timeframe September 6th 2013

Scenario 1. Price bounced off the 1.3110 area and now it has a target in the 1.3610 area, helping price into that 1.41 area of longer term target. This is also the high probability scenario.

Scenario 2. There is a possibility for price to continue lower and retest and break the 1.3110 area. We know that second tests are dangerous tests and price could keep sliding to test, for the 4th time, the 1.2880 area. For now this is an outcome we cannot remove.

I send a free Newsletter in the weekend and provide updates throughout the week. You have still time to subscribe. The newsletter typically includes: a weekly review for the Euro-Dollar cross, my FibStalker View on Currencies focusing on Forex pairs, articles on my trading method, market commentaries and HFT/Program Trading. Please, register here to receive the free weekly newsletter.

If you like this article, please share it with your friends and fellow traders. Thank you.

If you want to receive such videos, please subscribe my free newsletter.

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

Should you decide to operate based on this information you are invited to do your own due diligence, consult a registered trading professional, as well as, understand the risks involved. This information is for educational purpose only. Please read the Disclaimer and accept all involved risks.

Have a great evening.

Advertisements

Leave a comment

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