Forex Positive
Short

EURUSD moving to next support zone

FX:EURUSD   Euro/U.S. Dollar
Forex Trading Technical Analysis: EURUSD             moving to next support zone

Watch EURUSD             price action carefully. A break below current support zone 1.3630-50, could send EURUSD             lower to the next support zone around 1.3500.

2 ways to trade this.

A) Aggressive approach (Short on breakout below 1.3630-50)

Pros: higher chance of being fillled

Cons: may be a false breakout, and EURUSD             trades back above 1.3650

B) Conservative approach (After breakout, wait for pullback rally to 1.3630-50)

Pros: for those who prefer more confirmation price action before proceeding

Pros: reduces chance of false breakout

Cons: if EURUSD             breaks below 1.3630-50 without any rally retracement, trade may not be filled
Couldn't agree more. I've just posted the same chart on my page :-)
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Nice. What's the link?
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