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By Casey Stubbs-- Winners Edge Trading

Today the Euro gained against the Dollar on a larger than expected unemployement announcement this morning. In the past that would have sent the Dollar higher because of risk aversion. Today, however the dollar lost strength even with the negative news report. I would attribute move today as a pull back from the Dollars earlier gains this week. You can see from the chart below that todays gains hit the. 382 level on a Fibonacci Retracement on a 4hr chart.

So once again technical analysis rules over news. I do think long term the fundamental weakness of the Dollar will eventually show up the Dollar can't keep raising in value when the economy is falling apart especially since ...

Monday- Feb, 16 2009 3:00 pm Est

Casey Stubbs- Winners Edge Trading

Light activity in todays trading because of the U.S. holiday resulted on little movement in the pair in todays trading. We can see the wedge that has formed which usually indicates that the pair will break lower. Right now as I right this the pair is at 1.2767 moving downward to the support level of 1.2700. Watch this level, this has been a strong support and a break of this level could lead the pair to the 1.2500 support level. Also watch for abounce off of the 1.2700 level and a move through the top of the triangle that would be a significant move to the upside. We could see the break out in the Asian session or tomorrows London or New York ...

Feb 13, 2009- 2:00 PM Est.

Casey Stubbs--Winners Edge Trading

The Euro is still trading in the range it was in last week. This has been two full weeks of consolidation trading for the Eur/Usd. The resistance level is at 1.3091 while the support for this pair is 1.2705. How long will this range continue to hold. Because of the stability of this price range over the past couple of weeks traders that have a range trading strategy have been seeing some good profits. Moving average strategies do not work in this enviorment because as soon as the crossover occurs, the price turns and goes back the other way. So the best way to trade this is finding support and resistance levels and when the pair hits that level and turns ...

Casey Stubbs-- Winners Edge Trading

The Eur/Usd Pair repeated yesterdays activity almost exactly by running up to the resistance level of 1.3050 forming a double top in the two days trading. In the past two days the trading of this pair has been range trading as the range has been from 1.2700 to 1.3050. This range makes for good range trading strategies such as an RSI strategy or a Stochasitics strategy. The market can't seem to make up it's mind about which way to move, possible the upcoming unemployment data will help move the market in one way or the other. The current resistance level is 1.3091 and the support level is 1.2700. The pair has been trading in between those levels for the last eight days.

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