Monday, May 13, 2013

Alright, the markets are once open again. I have been keeping track of the EURUSD since this morning. Looking at the H4 chart, you can see that there is some resistance at around 1.29555. I believe that the Euro will rise against the dollar for this week. I would only open a position if the next H4 candlestick forms above 1.29851. The stochastic indicator seems to be giving a good signal to long EURUSD too!



I won't be looking at the GBPUSD pair for now as I feel that the trading opportunity for EURUSD is much better than the former. 

Let's go for the USDCHF shall we? I don't have much experience in trading this pair, but based on my estimates, the Swiss Franc will probably appreciate against the dollar. Yes, in other words, you might want to look out for some shorting opportunities for this currency pair. 

I will have another post tonight or tomorrow morning regarding EURUSD :)

See you!

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