The fall in EUR-USD finally resumed having corrected to a 2-week high at 1.29943on Tuesday. The catalyst was the FOMC minutes. Although nothing new could be gleam from the minutes, traders markets assumed the Fed will remain on course to hiking interest rates in 2015, which gave the US Dollar support.The overnight fall did not come as a surprise as all along therecovery was noted to be corrective in nature. With last night break below1.28588(the previous low),the resumption ofthe fall from 1.39929 has begun with earnest. Focus is on the 61.8% retracement of 1.20414 to 1.39929 at 1.27869(refer to W1 chart). This level is located just above a major demand zone at 1.26602-1.27786in the D1 chart. Needless to say, short-term resistance is now at the supply pocket at 1.29729-1.29943.
TRADE IDEA #1 Sold at1.29743 Stop-Loss: Exit on H4 close above 1.30400 Primary Target: 1.27786 Secondary Target: 1.27045
Type: SELL Size :0.03m Time :12.09.2014 hour:19:27 Open price :1.29743 Time : 17.09.2014 hour :23:59 Closed price :1.28638 Unrealized +/-: $331.50
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19-Sep 2014 Friday
9:03 PM (3509 days ago)
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