The EURUSD has moved up by 66 pips since the previous post that I have sent you and I hope that you have profited from this move as well.
The purpose of this post is to give you my analysis of the EURUSD so that you can also get to see how I analyses the chart.
The price has moved up and it looks like it is going to move back into the channel. However this does not mean that the price will not move down now as there is a small resistance coming at 1.21518.
So if you are still in a BUY trade, you have to be careful and make sure that you have shifted your stop loss to breakeven.
Similarly, this does not mean that the price will not break through the resistance but it is just that you have to be careful.
This is the hardest period to trade as the upper resistance and the lower support makes the price likely to move up and down.
If the price manages to break above the 1.21518 with valid breakthrough, the price will then move up to test the upper resistance of the trend channel
In order to help my student grow their account with my strategies, I have created a FX Signal Service where I will show you where exactly you should enter the trade and where to exit it and you will get to see how I do my analysis of the market.
If you are interested to find out more about this service, simply click on the link below for more information