Online Forex Trading - Euro find no reason to climb higher?
Its look like yesterday ECB Rate hike has a little impact on Euro vs USD.
The hike has been expected by market thus ECB rate to 4.0 % made EUR/USD move moderate and its next move depends on ECB President Trichet Speaks.
But the press conference also did not talk with a clear view on next July statement thus market can’t find a reason to take any euro long position.
Euro area now hovering at 61.8% of fibonacci retracement from previous impulsive,and we could some movement at London today because there is one important data coming out that may influence on EUR/USD.
I’m still holding two of my secure position.Online Bisnes Forex strategy would be risk current position with secure stops and trailling that stops if market goes up.
If the market goes bearish then my stops may triggered and I will re calculated my Elliott wave analysis for next wave pattern.
Intraday support and resistance would be :-
1.3522 , 1.3545 and 1.3575
support = 1.3470 and 1.3410-1.3430.
Regards
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