haven't been trading for the last few days because some stupid things happening in my life ( Somebody stole my Gym bag that had all my ID's and credit cards, Had to fire somebody at work, Hit somebody accidently). I just can't concentrate on trading when stuff like that happens, so I usually stay out of the markets.
No more bitching, here is my analysis for the next week. The Euro/USD will drop a little more before it starts going back up. I believe we will see it fall to somewhere near 1.220 and then make a move back up to 1.24 tarting sometime Monday the 22nd. If the Euro drops below 1.2150, I will consider this the start of a major downward move to 1.19 and lower. I don't think we are going to see this, though. I do think we are going to be stuck within a trading range of 1.2150 to 1.24 for a while longer. My reasoning just comes from looking at the charts and the generally sluggish US economy.
So my plan will be to buy ideally at 1.2230 and sell at 1.2350 on Monday.As usual, we will see what actually happens.
No more bitching, here is my analysis for the next week. The Euro/USD will drop a little more before it starts going back up. I believe we will see it fall to somewhere near 1.220 and then make a move back up to 1.24 tarting sometime Monday the 22nd. If the Euro drops below 1.2150, I will consider this the start of a major downward move to 1.19 and lower. I don't think we are going to see this, though. I do think we are going to be stuck within a trading range of 1.2150 to 1.24 for a while longer. My reasoning just comes from looking at the charts and the generally sluggish US economy.
So my plan will be to buy ideally at 1.2230 and sell at 1.2350 on Monday.As usual, we will see what actually happens.
