Friday, March 26, 2010

Forex Day Trading Room

EUR/USD Well we have seen a turn at the figure and then a measured run down to just under 1.3370 on what appears to be light volume. We have run into support of the 89 EMA on the 5 min chart and the 34 EMA on the 15 min chart. When your charts are in harmony, you will see different EMA's lining up as support or resistance at the same level on different time frames. Interesting how that works, BUT it does so time after time. We have also run into traffic at this level and are experiencing sideways action at the moment. Keeping an eye on the clock for the NY open and price action move or lack there of. FXDMG

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