EUR in the zone

Good evening Dynamic Traders,

Hope you are enjoying a week of beautiful weather and lots of opportunity in the markets. I must say I don't normally trade the news as it is not something that is good for my sanity and more importantly my better half's health :)! I did however benefit inadvertantly as I was already triggered into a position, the market gathered momentum akin to an avalanche and then there was no stopping it - fortunate for those that were in the flow and not so bad for those with stop losses either. Well done to Zaheer for gracefully extracting a sizeable 300 pips!

I have had a phenominal week of growth and breakthrough's this week on many aspects of life and as such would like to say thank you to you the readers of the blogs for your energy and feedback and to Javid and Anne for their humility and contribution that touches so many people's lives. I would also like to commend my fellow bloggers not just on their trading and persistance but their creativity and inspiration.

On to the charts then, there is some decision making for the EURJPY to do. Price is approaching a strong resistance level which is also a major RN. MACD across multiple timeframes is showing divergence. Will price gain continued strength and manage to break through the posed barrier or will the resistance win again? The answer is - no one knows but a good occassion may be presented shortly to get into the game.














The EURGBP is also showing somewhat of a similar decision point. After a period of consolidation, it has journeyed upwards and is now approaching strong resistance. If the uptrend is to be resumed then it will continue through resistance. I will be keeping a keen eye on this one to see if I can get into the game at the appropriate time.

Keep in mind that if there is a large price movement due to news, price can go through a correction phase. Please do your own analysis - that is a fun part!














Good Trading!
Bijal Shah