My Trading is based on the laws of supply and demand. Everything about price is reflected in the price. Price moves between areas of supply and demand until the demand is absorbed and price moves lower or supply is absorbed and price moves higher. This blog is dedicated to the relationship of supply and demand and it's effects on price in the forex markets. Once supply and demand is learned, it can be used in any market.
12-6-06
EURUSD
The EURUSD is still in the same range as yesterday between 1.3362 and 1.3294. The area of supply inside the range between 1.3320 and 1.3334 may turn the EURUSD down to extend the bottom of the range. I see that the US Dollar Index came into an area of support on a daily chart at $82.25 which may lead to a significant bounce for the dollar. I will hold off on any long trades until the 1.3250 area in the EURUSD.
Posted by
Forex Trading Based on Supply and Demand
at
1:46 AM
No comments:
Post a Comment