Euro/USD chart added in charts section (see above).
(daily)Pivot = 1.4858, R1= 1.4499, S1= 1.4273
Primary Trend = down (below pivot and trend-line)
Short Trend = up (30 min higher lows)
tip.. watch resistance level 1.4499 in daily-timeframe and any attempts to get above it and watch the peak and troughs in the 30m time-frame. This will give you the approximate current strength of the USD because 57% of the dollar index is vs the Euro (known as the anti-dollar). This pretty much wraps up the trading year. Good luck forex traders!
Hey Everybody,
ReplyDelete"Which Forex pair and time frame is best to trade" is the frequently asked question and I want do give you the EXACT ANSWER in this comment.
Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on weekly...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!
The "PROBLEM" is that markets change over time. If EUR/USD was a well trending currency pair a few years ago, today it is another one.
I actually want to let you know about a SPECIAL TOOL that I use to find the BEST TRENDING PAIRS among all the Forex pairs.
CHECK IT OUT: ForexTrendy
The instrument examines 34 Forex pairs on all time frames from minute to monthly. This way you choose the best trending pair and time frame at the current time.
GET THE SOFTWARE: ForexTrendy