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Hello traders welcome to a new trading day. I have looked at the charts and we can see a big reaction from the ECB press conference on the charts. I will continue the trend and we will have to wait for price to come to us for our entry to sell most of the pairs today. It is also Friday and profit taking will be going on and position squaring. Please be alert to this. We have a lot of PMI data being released all day today. Traders Enjoy your weekend break…..

OK let us look at this market after the big ECB press conference. Let us look at the EURAUD- This is the 30 minute chart chart. Today we have a new look at this chart as yesterday the ECB had press conference and caused this big move with dollar strength and Euro weakness. I have placed a resistance line on the chart and am looking for a pullback to that price zone to re short this pair at the price of 1.5403. I am looking to take profit at the price of 1.5325 I do not want to wait for 5300, there will be many orders there for longs.

Thank you traders and talk soon enjoy your weekend break after today…….William

FX Instructor Forex Blog – For Traders, By Traders

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