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Eur/Usd: Update on Todays Price Action

Posted 11-19-2009 at 03:25 PM by Casey Stubbs (Winners Edge Trading Daily insights)

Eur/Usd up, down, up, down like a see saw. For those of you that remember that wonderful playground toy. You are always moving but you never get anywhere. I have good news though there is a trade setup in all of this.

That is how the Eur/Usd has been trading since the beginning of the month of November. Today the price moved lower in the European session and then began to move back up in the New York trading session. The strong resistance level is 1.5000 and the strong support level is 1.4800. These two levels have been tested several times each.

In the near term there isa wedge forming on the one hour...

Casey Stubbs

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Eur/Usd: Strong Support Area

Posted 11-18-2009 at 04:24 PM by Casey Stubbs (Winners Edge Trading Daily insights)

The 1.4825 level is an extremely strong support area as that level has been tested five times in recent weeks. The 1.5000 level is a strong resistance that has been tested several times.

Which ever way the pair decides to go since these support and resistance areas are very strong it will probably be a significant indicator as to which way the trend will move for some time. Keep your eyes on these levels and attempt to do range trading until a clear pattern emerges. Range trading can be profitable and the pair follows a pattern that can be useful to find trading entries. Make sure that you keep watching important news releases...

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Eur/Usd: Is Officially in a Range

Posted 11-16-2009 at 06:25 PM by Casey Stubbs (Winners Edge Trading Daily insights)

The head and shoulders pattern I wrote about in the last article never materialized. This currency is in a range because the market can't decide what to do next.

How long does it take to for a currency to be considered in a range? I don't know but I know that the Eur/Usd is in a range now. The was in an upward moving trend that has slowed down to be in a trading range. The pair crossed the 1.4626 level on October 4th and from there the price moved up to 1.5062. The pair has been in between those two points since Oct 4th.

So now that the trend trading is over with it must be up to range trading to find entries...

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Eur/Usd Head and Shoulders Pattern

Posted 11-14-2009 at 10:20 AM by Casey Stubbs (Winners Edge Trading Daily insights)

Hello everyone how are you all doing? This is Friday evening and the weekend is coming up. I will be spending some quality time with my kids as well as a little time working and posting here on Winners Edge Trading.

The Eur/Usd had a ranging trading week as there has been mixed news concerning the Dollar. The currency appears to be forming a head in shoulders pattern on the 4hr chart. With the right shoulder just forming right now. This is a classic chart pattern that is an indication of a downward price move.

Lets Take a look at the Chart

4hr chart

On this chart the...

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Daily trade recommendations on the Eur/Usd Currency Pair by trader Casey Stubbs of Winners Edge Trading.

Casey is a Forex Trader and a contributer to Daily Fx Blogs and Forex Factory.com

Casey is featured at Winners Edge Trading a premier Forex Website with trade Recommendations, articles, trading tutorials, and a free iteractive Forex trading School.