EUR/USD Daily overview
March 11, 2010 by Orhan H.
Filed under Technical Analysis
A few days ago I mentioned that sideway is evident, just look at the chart above. In the next few sentences I will try to explain how to trade in similar situations.
If you look at H1 time frame the situation is quite complicated in this situations trying to reach a more precise picture of the the Market using higher TF, if you look at the price of the H4 chart is much clearer, if you know how to trade. Sideway on the H4, which runs more than two weeks. If you think, based on fundamentals and your past experience that the price will go to sell, you should wait for Resistance zone (see picture) before you enter the position, the opposite applies to buy (see picture).
This is not a technical analysis that will give clear instructions regarding the stops and take profits because a lot depends on the price action, this is the just overview, that will help you to get self confident while trading.
The picture below represent the same TA at H1.
In order to get a more clear picture is necessary to look at daily chart. At daily chart you can see important areas. Now, you have a clearer picture of market, I hope that will help you in your trades.
