In December 2009 the Euro was at lofty levels of 151 - 6 months later we're virtually at 121. What does this mean for where the price may head right now in June? Absolutely NOTHING!
For us at Trading Market Signals the path seems clear - the unbiased technical approach shows this illustrated in simplistic form:
As you can see we're currently whipping in a range bound environment and whilst the direction too many may not seem crystal clear, one thing is screaming out loudly to us from the chart above - A BIG MOVE is on the cards. You may think we're done with the action for 2010 in term of the Euro but for us the fun is just about to kick in.
We have some short term trigger lines which can be seen in orange. It also displays how the bears are selling into this line - But you have to think in unbiased fashion and ask yourself; is it now the time to buy against the line?
Buy at the trigger lines and gain control in Bull Land and we'll surely head higher towards 130 to 135 with ease.
Sell at the trigger lines and if the Bulls decide to kill this dry then surely 113 will come alive with ease.
Strike it with us at Trading Market Signals.
At trading market signals the technical picture changes just as the scenarios on the road change whilst a driver is driving a car. A driver must adjust to various scenarios and a trader must also remain technically unbiased so that optimum results can be achieved. In fairness the price on the side will always simply be a number. Don't get emotionally attached as to what the value will be as the primary and sole aim should be to trade the markets. If you want to trade and learn the best way to strike the markets then come and join us. The Euro hitting 1:1 with the dollar or going back to 150 has no significant bearing on being able to obtain gains from the market as if the trend changes, so do we.
At TMS we're not a forum based website; fortunately this is not a place for idol gossip. Trading market signals will provide you with the unbiased direction you're trading requires. TMS will be closing its doors to retail members later this year. Institutional traders have become a major part of our membership and we're looking forward to making them our focus.
Retail traders can join at the special rate below which is not available via our website; http://tradingmarketsignals.com/#/flash-crash-price/4540799314
Obtain technical analysis commentary like no other with critical market charts and TMS signals that netted 15377 points in 2009 on the five major markets we follow: Dow Jones, GBP.USD, EUR.USD, Crude Oil and FTSE100.
Until next time, remember:
Trading Market Signals
...the hub of unbiased technical analysis!