The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at
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Sunday, June 27, 2010

FXE base

After recovering from all the hype in the early part of this month, the Euro currency has come back to a previously accepted value range.
Looking at this weekly chart of FXE, the measured move jumps out at you:There are a couple of Resistance zones overhead, but price looks more interested to test what's above than what's below at this point in time.$125 will be a big pivot to clear. If it can recover $125 support than there's a lot of clear air between that and $135 to test.

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