EUR/USD Who knows what is going on

An article by Gus

Hello everyone I have been absent a while, but have just had to deal with some personal problems. Now I am back hopefully for good as long as my last semester of school doesn’t get in the way. I don’t want to keep this too long, so lets get right to the action. Last week the EUR/USD did absolutely nothing until the last day or so of trading. Lets look below:

As you can see from the above screen shot, which covers both gaps from September 12 to the 16. The EUR/USD stayed in the trend channel for quite of the week until around Thursday when it finally broke loose for a decent gain. The opening this week picture below, was quite interesting as well.

We got a pretty big gap this week from last close, but it was worked for our favor. The price opened almost on the trend line from last week and near a S/R line at 1.36776 which has shown promise for me. The price has been bouncing around the neon line an locked in 64 pips already from a short after it broke. We are waiting too see what happens the rest of the week regarding the Federal Open Market Committee Meeting and with the status of Italy and Greece. The euro has just taken a beating on all fronts and I don’t think it will stop anytime soon. Italy has already been downgraded and Greece just doesn’t seem in my opinion to have a solid plan for the future yet.

I will keep you all posted as soon as the London markets and U.S. markets open tomorrow. Keep touch on Twitter as I am more active on there during trading hours than here.

Gus FX