It’s been a few days since I have done an update on the Euro/USD and my Forex trading. The Euro has been a good currency for investing this month, as I have now had well over 50 trades for a positive gain of 241 pips. In the latter part of this month the Euro has seen a slow down and some strong selling driving its price back down some.After hitting an all time high on the 16th of 1.5904 it began a retreat back down 1.5342 only to start back up to what looked like a retest of the 1.5904. It didn’t quite make it and for the moment stopped out at 1.5844. It now looks to be in a period of consolidation and taking any positions on this pair at the moment is not for me.
There are many other pairs that can be traded fortunately so there is usually always trades that can be made. I try to stay with one currency and focus my technical analysis on it. If you haven’t tried Forex yet, make sure and get your free practice account to see if you can make it in the world of currency trading. It cost nothing and is much like a one of those virtual stock market challenges but the Forex market is much more exciting as it is open 24 hours a day 5 days a week. Get your free practice account with the banner above.
Tags: Forex by Rusty
No Comments »
