EURUSD Technical chart | 12-Oct-2011

Let’s see and analyze the technical chart of EURUSD currency pair with Doda-Donchian and Doda-Bbands indicators. I’ve taken snapshot from MetaTrader Forex trading platform.

On 06-Oct-2011, both the indicators mentioned above gave Buy signal at around 1.34269. And after some resistance, as explained in my previous post, it went up.

Now, let’s shed some light on currency strategy.

Although the price is rising, Doda-Donchian line is flat. That means it will attract price in coming hours. So, watch the level of 1.3470 now. The price may kiss this level to resume its upward journey.



On the upside, it will face resistance at 1.37057.

Hope it will help you.






+Admin

5 thoughts on “EURUSD Technical chart | 12-Oct-2011”

  1. Thanks dude. I love your indicators. They are all I use, and I am only trading the eurusd right now. Do you have a forum or something like that for people that use your indicators?

    Thanks,
    CH

    1. Thanks for your positive feedback. I tried to start forum at http://www.dodacharts.com/forum but I could not see much involvement of traders there. If some of you just start posting your experience and discuss the same with each other, it will be wonderful place for successful forex traders.

      Admin

  2. What are the little arrows at the tips of the candles supposed to indicate? Are they something to consider when placing a trade?

    Thanks,
    CH

    1. You can ignore them as they have no link with taking the trading call. They just show the fast movement of price.
      Hope it will help you.
      Admin

Leave a Comment

Your email address will not be published. Required fields are marked *