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  • Opinions - Not Facts

    This blog consists of contributions from FXCM staff, executives and people that have a relationship with FXCM. In spirit of a blog, the posts are conversational and opinionated. However, they are not official FXCM policy and not double-checked for facts. The authors are providing information that they believe to be true or opinions they hold. To verify information or check official FXCM policy, please contact FXCM through the firm's official website, www.fxcm.com.

    • « How Bad Can Carry Trade Losses Become? | Home | USD/JPY Volatility Yet to Reach Its Peak »

    EURUSD - New Month, Still Hanging In

    By Eliseo Agas | August 1, 2007

    Buyers weren’t interested in coming in yesterday with a failure to break above the 1.3726 area (per my previous post). Despite this, selling action yesterday was well contained with this morning’s action looking like support is holding, for now.

    The long idea is still valid with a break above the 1.3726 area since that’s where sellers most recently stepped in keeping buyers at bay. Psychologically, if the 1.37 figure is breached today then we may get some good further upside action supporting this idea. Let’s see what the month of August brings for EURUSD traders.

    eurusd-daily-0801.gif   eurusd-4-hr-0801.gif


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    Topics: Better Use Charts - Use Charts Better |

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