Home EURUSD questions for this week
Forex News Today: Daily Trading News

EURUSD questions for this week

Well, after Bernanke’s two days of congressional testimony, we don’t know more about the future of the tapering. What we only know is that the pair has been in sideways moves and couldn’t break out from the range last week. I have read plenty of articles which argue that the greenback needs to get stronger, but I am pretty sure that if we hear bad news from the US, the dollar will start weakening.

All the macros in the last few weeks indicated that there is no real recovery in terms of unemployment and inflation in America. So we will wait for more bad news and then set up our positions for a long on EURUSD.

EUR USD Technical daily outlook July 22 2013 for currency trading forex

Technically the pair didn’t hit any key support last week. In the bigger picture it was an unspectacular week. Some traders such as me expected it to test the 1.3200 level but that didn’t happen. We are still in the range 1.3000 – 1.3200. The EURUSD needs to break out from this area having a clear picture about the direction. My personal bet is the long side. But this is only one opinion. I guess that on Monday or Tuesday a breakout on the upside could happen.




Blindfoldedmonkey is a daytrader and money manager who has spent more than 10 years in this business. Risking his own money each day in the market and working for some funds as money manager and adviser. With many years of experience, he developed a system, which called - "Fractal Trend & Contratrend". This system is a complex trading solution for the forex markets. He writes often fx analysis, holds forex seminars and webinars, already teached many hundred traders about how to approach the markets in practice.