Forex Trader

Let’s take a look at the end of the week at EUR/USD. Based on my previous analysis from September 08. you can see, that the bulls have manage to defend 1.1130/40 after wich they have attack and broke the trendline. As I wrote it could happen, 1.1230/40 stoped the pair, after wich the pair fell to outer side of the trend line, whis has become boost for the pair and the bulls have broke 1.1230/40 in the next attack in September 10. The mext resistance at 1.1300 hold on the way up the day after, but the bulls manage to brake that resistance at the end of the week and close the week above that level. What next? The pair has aproached the next important level, which could be important in the next week and it coud become crucial for another possible attack of the 1.15 level. If the bulls can manage to brake this trendline and resistance level at 1.1350/70, 1.1420/50 is in danger, the previous strong weekly resistance from the last several months. Take a look at this break and attack on the 1.1700. It wasn’t easy to do this against strong US dollar. If the FED doesn’t raise interest rate in September, 1.1700 will be in danger one more time, there is no doubt about that. Keep watching, there is more very intereseting days in front of us.