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EUR/USD Trade Idea for the Next Week

June 15, 2008 by

EUR/USD daily chart is currently showing a good possibility of a bearish breakout from the range traded since April 22. You can see the present range on this picture below:

EUR/USD 2008-06-16

If the next trading day closes below the current support line (which is near 1.5379 level), there is a great possibility of a fast drop on EUR/USD down to about 1.5000 rate. On the other hand it can fall back from the current level and continue trading within the range. Anyway if the range persists, a closing bar below the lower bond will mean a strong bearish breakout, while a close above the upper bond wouldn’t necessarily mean a bullish breakout.

One Response to “EUR/USD Trade Idea for the Next Week”

  1. Vinny

    Useful info! Keep it up.
    Good Trading to All

    Regards,
    Forex EA Zone Team

    Reply

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