EURUSD trading next 4-hour extension short, June 11 2014

Dear traders,

this is a brief analysis of the EUR/USD pair that, as mentioned in the market review provided on Monday, has respected (and confirmed so far as resistance) the area starting at 1.3668.

The Euro is currently trading the 1.3552 next 4-hour setup short in the sequence and, so long as it stays below the failure level 1.3561 (stop-loss for current short) it has the potential to move into the 1.3424 area.

The chart below shows the current view on the 4-hour chart:

"EURUSD trading next 4-hour extension short", June 11 2014

“EUR/USD trading next 4-hour extension short”, June 11 2014

Above the 1.3561 level, the Euro has the potential to move again back to the 1.3668 area of resistance, before starting moving lower again.

Hint: 1.3561 is a profit taking for shor-term trades short started at 1.3668

Notice that price projections in my method are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary method based on modeling effects of Program and Algorithmic Trading on price.

I like to help traders “level plain” the trading game showing what banks, institutions and big hedge funds are actually doing (and not what they are saying they are doing). Follow my work to learn how to spot the Algorithmic Trading footprints.

Do not forget the  3-hour Monthly Webinar event I am going to offer on Thursday June 19 at FXStreet.com. It is in 2 parts and you can check the details of the June Monthly Webinar and register here. Don’t miss it, as I am going to share very good and useful information that can help in your trading.

I send a free Newsletter in the weekend and provide updates throughout the week. The newsletter typically includes 3 video reviews for (1) EUR/USD, Dollar Index, S&P500 emini and Gold emini; (2) the Japanese Yen majors, i.e. USD/JPY, EUR/JPY and GBP/JPY; (3) the other majors: GBP/USD, AUD/USD, USD/CAD. Please, register here to receive the free weekly newsletter.

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

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Have a great trading day.

The FibStalker Giuseppe, ~the FibStalker

 

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