Forex Trade Setups Commentary: EURUSD Strength Continues, 11th January 2013

AppId is over the quota
AppId is over the quota

Trading Setups / Chart in Focus:

EURUSD – Euro/dollar continues higher through key resistance

The EURUSD has shown significant strength into this week’s end as we can see it rocketed higher from 1.3000 support on Thursday and continued higher today, breaking and closing above key 1.3300 resistance. Yesterday we discussed taking a more neutral bias on this market after the big surge higher that occurred, but after today’s close above key resistance we can see this market has some strong legs under it and we are now taking a more bullish tone on this market. Next week, we will watch for price action strategies forming from support to buy this market. We can see a key support area coming in down near 1.3150, and next week we will keep an eye on that support and dynamic support near the 21 day EMA for buy signals if the market rotates lower.


Check out my latest trading lessons:

• 5 Things You NEED to Know Before Trading Forex Live

• How to Remove Your Fear of Losing Money When Trading

‘New Year’ Special Promotion: This month I’m offering a Special Discount on Lifetime Membership to my Forex Courses, Live Trade Setups Forum, Daily Trade Setups Newsletter, Email support line & more. For more information Click Here.

Forex Commentary:

In the currency markets today, the euro shot higher against the U.S. dollar on the back of continued optimism over speculation that the ECB won’t ease monetary policy anytime soon.

The Japanese yen weakened against most of the other majors again today as expectations of aggressive monetary easing in that country remain.

Other Markets:

In the U.S. markets today, stocks ended the day largely unchanged as investors paused ahead of a busy corporate earnings calendar next week.

The Dow added 17.21 points, or 0.13 percent, the S&P 500 lost 0.07 points and the Nasdaq added 3.88 points, or 0.12 percent.

Upcoming important economic announcements (New York time): 1/14/2013

4:00pm EST: United States – Fed Chairman Bernanke Speaks

This post was made using the Auto Blogging Software from This line will not appear when posts are made after activating the software to full version.