07 April 2019

How To Trade EUR/USD Now - As of 7 April 2019



The EuroUSD has been in a clear downtrend for quite some time.  As the monthly chart above shows price has tested the downtrend line (1) repeatedly finally breaking through support (2) at the beginning of 2015.  

Price then fell to just above the 1.03 level (5).  That became the new floor until early 2018.  Price bounced back to the previous support (3) which now tried to pretend it was resistance (price struggled to get through that level for a few bars).  After pushing a bit higher to the downtrend line (4), price reversed and has drifted lower since that point in early 2018.

The question now, as ever, is whether price will continue to fall or if it will stage a strong bounce.  Here, I would have to say stay with the larger downtrend and hold shorts/look for short entries.  

My mind will only change if price can push up through the downtrend line and the most recent swing high (above point 4).

My Most Popular Posts

TAOST Topics

Emotional Capital How To Trade simple trading Simple Day Trading futures trading swing trading Emini Trading How It Works stalk candidate trade idea Daily Simple Trading Habit TAOST market update support and resistance trading intraday Bitcoin Process price action simple trading tools what to buy what to trade Best Retirement Investments Chart Patterns Focus New Trader Sins Swing Trade TAOST Trading principles day trading lifestyle how to day trade keep it simple risk risk management trends Are you too old Confidence FAQ FASTQ How To Invest Income streams It takes as long as it takes MAR Retirement Crisis Retirement Investment Retirement Trading TAOST Power Zones TAOST Price Clusters Trade Pattern Trading & Poker day in the life of a day trader learn to trade performance improvement sell signal side hustle the power of simple trading psychology trading rules trend persistence ultimate side hustle Buy Signal Charts To Watch Coil Distraction How To Trade EUR How to trade SPCE Mistakes Oh S#!t Gap Oil Optimization Process Ownership Portfolio Trade Private Equity Professional Gap Retirement 911 Risk Arbitrage S&P 500 Sacrifice Shooting Star TAOST Price Structure Trading Components Trading Myths Value Why You're Only 1 Setup Away chaos theory compounding context diversification downtrend extra money financial freedom how much money how to how to trade Bitcoin information is the stock market random kis linear regression channel lock limit down meditate money money management negative compounding optimize thinking pandemic position size prediction quantum leap improvement random random market update risk management plan sector selloff simple day trading risk management simple day trading strategy that works stock broker trading secrets training trend analysis