Friday, September 30, 2011

Today's strategy in EURUSD | 29-Sep-2011

Let's analyze the technical chart of EURUSD currency pair with Doda-Donchian and Doda-Bbands indicators and discuss today's strategy for trading.



As mentioned in my couple of previous posts, EURUSD is trading near its strong resistance area. So, do not take any buy call in this pair. Although, it's trying to break this resistance area, but till now, it fails every time.

The 2 main levels are: 1.36490 on upside and 1.34952 on downside. You can take long position if EURUSD able to CLOSE above 1.36490 OR take short position here if it CLOSES below 1.34952 on H4 time frame. Till then, just wait and watch.

And do not forget to make your appropriate stop-loss.

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