Currency Trade and Forex System Guide

The forex market is all about trading between countries, the currencies of those countries and the timing of investing in certain currencies. The FX market is trading between counties, usually completed with a broker or a financial company. Many people are involved in forex trading, which is similar to stock market trading, but FX trading is completed on a much larger overall scale. Much of the trading does take place between banks, governments, brokers and a small amount of trades will take place in retail settings where the average person involved in trading is known as a spectator. Financial market and financial conditions are making the forex market trading go up and down daily. Millions are traded on a daily basis between many of the largest countries and this is going to include some amount of trading in smaller countries as well.

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EURUSD’s fall extended to as low as 1.2587. Key resistance is at 1.2921, as long as this level holds, downtrend is expected to continue and next target would be at 1.2500 area. However, above 1.2921 will indicate that the fall from 1.3333 has completed at 1.2587 already, then further rise towards 1.3333 previous high could be seen.

For long term analysis, EURUSD formed a cycle top at 1.3333 level on weekly chart. Pullback to 1.2200 is expected in next several weeks. However, the fall is treated as correction of uptrend from 1.1876, another rise towards 1.4000 is still possible after correction.

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EURUSD broke below 1.2732 support level and the fall from 1.3333 extended to as low as 1.2663. Deeper decline is still possible and the target for next week would be at 1.2500 area. Resistance is at 1.2930, as long as this level holds, downtrend from 1.3333 could be expected to continue.

For long term analysis, EURUSD formed a cycle top at 1.3333 level on weekly chart. Pullback to 1.2200 is expected in next several weeks. However, the fall is treated as correction of uptrend from 1.1876, another rise towards 1.4000 is still possible after correction.

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EURUSD dropped sharply from 1.3333 and the fall extended to as low as 1.2749, suggesting that a cycle top had been formed on daily chart, and the rise from 1.1876 had completed at 1.3333 already. The pair is now in downtrend, deeper decline is still possible in a couple of weeks and next target would be at 1.2600 area.

For long term analysis, EURUSD formed a cycle top at 1.3333 level on weekly chart. Range trading between 1.2400 and 1.3333 is expected in next several weeks. However, the fall is treated as correction of uptrend from 1.1876, another rise towards 1.4000 is still possible after correction.

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