Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

MT4
MT5 Terminal

EUR/USD Trend Reversal (April 10, 2014)

EUR/USD recently broke above a falling trend line on its 1-hour time frame, indicating that the downtrend is already over. The pair also surged past the 1.3800 area of interest, suggesting that more gains are in the works.

Do take note though that stochastic has already reached the overbought area, which means that buyers are already exhausted. In this case, a pullback to the previous area of resistance might be in the cards before the pair moves any higher. Traders might be interested to fade the reaction to the FOMC release.

140410_eurusd

 

With that, EUR/USD might retrace to the 1.3750 minor psychological support and broken trend line around 1.3700. Going long at 1.3750 with a stop below 1.3700 back under the trend line and a target of new highs near 1.4000 could make a good return on risk for a swing trade.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/my
Quotations
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Sertai Kami dalam Hanya 1 Minit!

MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/my